U.S. Treasury Secretary Scott Bessent believes that the cryptocurrency industry will become one of the key buyers of U.S. government bonds in the coming years. Of particular importance, he said, will be stablecoins — digital assets backed by currencies and highly liquid securities like Treasuries.
Bessent has already held talks with leading issuers, including Tether and Circle. As a result of these discussions, the Ministry of Finance intends to increase the issuance of short-term bonds in the coming quarters. This step coincided with the adoption in July of the GENIUS Act, signed by President Donald Trump. The document for the first time consolidated the federal regulation of stablecoins, requiring them to be provided exclusively with «ultra-secure» assets, including treasury securities.
The agency believes that the new law will become a driver of innovation in the digital currency market and at the same time strengthen demand for short-term U.S. obligations. However, the volume of securities issuance, as emphasized in the Ministry of Finance, will depend on the market situation and the positions of investors.
Since January, when Bessent assumed the post of minister, the agency has intensified contacts with the financial sector. The increased attention to the topic is caused by growing concerns about the sustainability of US government finances: independent analysts predict that in the next decade, the debt-to-GDP ratio will reach record levels amid rising borrowing after the adoption of a large-scale budget plan by the Trump administration.
