US Government Considers Promoting Dollar-Backed Stablecoins Abroad

The U.S. government is exploring initiatives to promote dollar-backed stablecoins on an international scale, potentially collaborating with private enterprises. This effort, attributed to the administration of former President Donald Trump, was reported by Bloomberg based on sources familiar with the matter.

As per these sources, the project is currently in the planning phase and may involve key agencies such as the Department of the Treasury, the State Department, and the U.S. International Development Finance Corporation (DFC), which is responsible for utilizing private investment to advance U.S. foreign policy and economic objectives.

Increasing the adoption of dollar-backed stablecoins could enhance the global prominence of the U.S. dollar and stimulate demand for U.S. Treasury securities. However, neither the Treasury nor the White House provided comments on this initiative, while the State Department and DFC opted not to respond to inquiries.

This international strategy follows the signing of the GENIUS Act by the U.S. President in July, which established federal guidelines for payment stablecoins. A subsequent draft of regulations presented by the Treasury in August 2026 anticipates that starting January 18, 2027, the issuance of these assets will require federal or state licensing.

The focus on international stablecoin use has already been reflected in official actions. On July 14, the U.S. and British Treasuries endorsed the cross-border application of stablecoins, emphasizing the importance of private sector involvement in capital and payment infrastructure.

Moreover, on September 22, U.S. Treasury Secretary Scott Bessent described dollar-pegged stablecoins as instrumental in sustaining the global status of the U.S. currency.