๐Ÿ’ธ Dollar dominance, now with a blockchain layer

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๐Ÿ’ธ Dollar dominance, now with a blockchain layer The Trump administration is weighing a plan to actively push dollar-backed stablecoins worldwide โ€” joint ventures with private companies, with Treasury, State, and the USIDFC all potentially involved, per Bloomberg. The logic is straightforward: stablecoin issuers must hold reserves in dollars and U.S. Treasuries. Their combined holdings already sit near $200 billion, ranking them among the top 20 holders of American sovereign debt. Every new USDC wallet opened abroad is essentially a fresh bid for U.S. government paper. The IMF's concern is the flip side: in emerging economies, dollar-pegged stablecoins risk accelerating capital flight and stripping central banks of visibility over money flows โ€” blockchain doesn't route through traditional channels. One instrument, two outcomes โ€” depending on which side of the flow you're on. CoinDesk

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