The U.S. Treasury Secretary expects stablecoins to bring about $2 trillion in demand for government bonds.

robot
Abstract generation in progress

According to Deep Tide TechFlow news on May 24, reported by Coinpedia, U.S. Treasury Secretary Scott Bessent stated in a recent interview that stablecoins could bring $2 trillion in short-term demand for U.S. Treasury bonds and bills, far exceeding the current $300 billion.

Bessent reiterated the Trump administration's firm support for cryptocurrency innovation and criticized the previous administration's destructive regulatory stance. He pledged to encourage sustainable innovation through a balanced and improved regulatory framework.

Stablecoins like Tether (USDT) are typically backed 1:1 by fiat currencies such as the US dollar and hold reserves in liquid assets (including government bonds). As these tokens gain wider adoption, their issuers are becoming important buyers of US debt instruments.

At the same time, the U.S. Senate is preparing a stablecoin regulatory bill that is expected to provide legal clarity and promote institutional adoption. Market rumors suggest that Fidelity and JPMorgan may soon issue their own stablecoins.

TRUMP-1.99%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)