U.S. Treasury Secretary Scott Bessent recently said that stablecoins could play a big role in reducing the national debt. In a recent post on X, he said as the stablecoin market grows, possibly reaching $3.7 trillion by 2030, it will drive more demand for U.S. Treasury bonds.
These bonds are used to back most stablecoins, meaning companies that issue stablecoins need to buy them. This extra demand for government bonds could lower borrowing costs for the U.S. government.
In simple terms, the government would pay less interest when it borrows money. Over time, this could help reduce the national debt and bring more people from around the world into the U.S. dollar-based digital economy. Bessent called it a “win-win-win” for the private sector, the Treasury, and consumers.
That scenario becomes more likely with the passage of the GENIUS Act—a new law designed to…
