PANews reported on September 24 that according to Bloomberg, people familiar with the matter revealed that the Trump administration is considering a plan to promote the use of U.S. dollar-denominated stablecoins overseas to consolidate the U.S. dollar’s status as a global reserve asset. Stablecoin projects are among the areas the U.S. government is considering supporting through joint ventures with private companies, a move aimed at preserving the U.S. dollar’s currency dominance and boosting demand for U.S. Treasuries.
PANews, Sept. 24 (Xinhua) -- The Trump administration is considering a plan to promote the use of dollar-denominated stablecoins overseas to cement the dollar's position as a global reserve asset, Bloomberg reported. The stablecoin project is one of the areas the U.S. government is considering backing by forming a joint venture with private companies; the move is aimed at preserving the dollar's monetary dominance and boosting demand for U.S. Treasuries.