Trump Admin Considers Global Stablecoin Push to Defend Dollar Reserve Status

The Trump administration is considering an initiative to promote US dollar-backed stablecoins globally. The goal is to reinforce the dollar's position as the world's main reserve currency and increase demand for US government debt.

The discussions involve possible joint ventures between federal agencies and private companies, according to people familiar with the plans. No decision has been announced yet.

Stablecoins are digital tokens designed to hold a steady value, usually one US dollar. They are backed by reserves such as cash and short-term government securities. The two largest stablecoin issuers are Tether (USDT) and Circle (USDC).