US weighs overseas push for dollar-backed stablecoins: Bloomberg
The reported initiative could involve private-sector companies and several US agencies as Washington looks to expand the international use of dollar-backed stablecoins.
The reported initiative could involve private-sector companies and several US agencies as Washington looks to expand the international use of dollar-backed stablecoins.
The Trump administration is reportedly considering an initiative to promote the use of dollar-backed stablecoins overseas as part of an effort to reinforce the US dollar’s position as the world’s reserve currency.
Citing people familiar with the plans, Bloomberg reported on Wednesday that the US government could support stablecoin projects by creating joint ventures with private-sector firms. The effort could involve several federal agencies, including the Treasury Department, State Department and the US International Development Finance Corporation (DFC).
Cointelegraph reached out to the US Treasury, the DFC and several US-based stablecoin companies for comment, but did not receive a response before publication.