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U.S. weighs overseas stablecoin plan to extend dollar use

The initiative would aim to increase demand for US Treasuries, and Bloomberg said it could involve Treasury and the State Department.

Reported · Written up by our desk · Stablecoins

Washington has previously fined Tether over misleading claims about the dollars behind its tokens, but attention has shifted to Tether's growing role as a major buyer of US government debt, reflecting how the stablecoin issuer is now tied to American financial priorities, according to CryptoSlate.

On Sept. 23, Bloomberg reported the Trump administration was considering an overseas stablecoin initiative, including possible joint ventures with private companies, with potential participation from the Treasury Department and the State Department.

The plan, as described by CryptoSlate, could also include the US International Development Finance Corporation, with a stated goal of extending dollar use abroad and supporting demand for US Treasuries.

CryptoSlate noted that the Bloomberg report does not confirm a deal with Tether and that the initiative has not been finalized.

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