US Treasury Secretary: Stablecoins Expected to Generate $2 Trillion Demand for Treasury Bonds

According to ChainCatcher, as 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 strong support for cryptocurrency innovation and criticized the previous administration's destructive regulatory stance. He promised 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 U.S. dollar and hold reserves in liquid assets, including government bonds. As these tokens gain wider adoption, their issuers are becoming significant buyers of U.S. debt instruments.

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