U.S. Treasury Secretary Scott Bessent emphasized that dollar-pegged stablecoins are vital in maintaining the dollar's global dominance. He pointed out that the dollar accounts for 89.2% of currency market transactions, and the vast majority of stablecoins are tied to USD. This information is corroborated by the Bank for International Settlements; the U.S. Treasury previously estimated that dollar stablecoins represent over 99% of their total market capitalization. Bessent further noted that Saudi Arabia's exit from the cross-border CBDC platform mBridge serves as another testament to the dollar's strength. However, the Saudi central bank clarified that it had concluded a pre-planned experiment and that the project is still ongoing.