Trump Administration Weighs Global Push for Dollar-Backed Stablecoins, Bloomberg Reports
The Trump administration is weighing an initiative to expand the international use of dollar-backed stablecoins, according to a Bloomberg report cited by The Defiant and Cointelegraph.
- The plan could involve public-private ventures pairing private-sector companies with several US government agencies, according to Cointelegraph.
- The Treasury Department, State Department and the US International Development Finance Corporation (DFC) could all take part, according to The Defiant.
- The stated goals are to strengthen the dollar’s global standing and boost demand for US government debt, according to The Defiant.
- CoinDesk separately reported that the administration is weighing a global stablecoin plan aimed at cementing the dollar’s dominance.
No timeline, funding figures or specific partner companies have been disclosed in the reporting so far.
Sources: The Defiant, Cointelegraph, CoinDesk
This article is for information only and is not financial advice.
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