The US is considering the development of a dollar-denominated stablecoin in foreign markets: Bloomberg

A report from Bloomberg on Wednesday cited sources close to the plan as saying that the U.S. government under President Trump is considering a project to promote the use of dollar-linked stablecoins overseas, part of an effort to bolster the US dollar's position as the world's reserve currency.

Such a plan may be implemented through the establishment of joint ventures with private companies involving multiple government agencies, including the U.S. Department of Treasury and the US International Development Finance Corporation (DFC).

The primary purpose is to expand the use of dollar-denominated stablecoins globally, which in turn could increase demand for U.S. government bonds as a key reserve asset used to support dollar based stablecoins.

It competes with other nations' digital payment systems.

This foreign push comes at a time when many countries are developing their own digital payment infrastructure. China's digital yuan is one of CBDC used in the Project mBridge cross-border business platform, while the European Central Bank (ECB) is preparing to test its use for 12 months, which is expected to begin in the second half of 2027.

Cointelegraph has also contacted the U.S. Treasury Department, DFC and several stablecoin companies in the United States for comment, but had not received a response prior to publishing the news.

U.S. ties of stablecoin to dollar power

Many senior US officials have repeatedly pointed out that the growth of dollar stability is linked to maintaining the global role of the dollar and increasing demand for U.S. government debt

In February 2025, venture capitalist David Sacks, who at the time was White House Chief of Staff for Cryptocurrency and AI, said that stablecoins could "undermine dollar power on an international scale" and may create additional U.S. government debt needs worth trillions of dollars.

In July 2025, U.S. Treasury Secretary Scott Bessent said the GENIUS Act, which establishes a federal regulatory framework for stablecoin payments, could strengthen the status of the dollar as the world's primary reserve currency by expanding access to dollars in the economy and increasing demand for US bonds.

Meanwhile, the Treasury Department continues to push for enforcement of the GENIUS Act. On August 17, it issued a Notice of Proposed Rulemaking (NRO) to open up public comment regarding rules governing the issuance, sale and distribution of stablecoin payments. Bessent stated that these regulations would help "source" the status of the US dollar as the world's reserve currency.