The sources note that Bessent had signaled that he expects stablecoins to eventually become an important source of demand for US government bonds in the coming years. That as the US administration is looking to shore up demand amid their continued waves of releases in new government debt.
Bessent is said to seek information from leading stablecoin issuers including Tether and Circle and the talks there centered around plans to increase sales of short-term bills by the US Treasury in wanting the stablecoins to be a real source of new demand for Treasuries.
Adding on to that, two of the sources said Treasury officials have also expressed more concern about demand for US debt in recent calls to the financial industry.
The full report can be found here (may be gated).
