U.S. Treasury Secretary Bets on Stablecoins as Key Buyers of Treasury Bonds, Promoting Integration of Cryptocurrency into Financial Core

ChainCatcher news, according to Jin10, U.S. Treasury Secretary Basant is betting that the cryptocurrency industry will become a key buyer of U.S. government bonds in the coming years. The U.S. government is seeking to support the demand for a massive amount of new debt, and Basant has sought information from major stablecoin issuers like Tether and Circle. These discussions have influenced the Treasury's plans to increase short-term Treasury bill sales in the coming quarters. The U.S. Treasury hopes that stablecoins will become a key source of demand for U.S. government bonds, and JPMorgan's global rates strategy chief Jay Barry stated that Basant absolutely believes stablecoins will be a real source of new demand for U.S. Treasuries.