Stablecoins issuers’ debt wish not enough to meet US needs – study
SF Fed authors say demand for Treasuries will be much smaller than government’s requirements
Even if stablecoin issuers’ demand for Treasuries continues to increase, it will not be enough to cover the US government’s debt requirements, new research from the Federal Reserve Bank of San Francisco concludes.
In a study published on September 28, authors Sylvain Leduc, Luiz Edgard Oliveira and Aleisha Sawyer say the share of US debt held by foreigners has fallen from around 50% in 2008 to around 30% in 2026. The key driver behind this has been the Chinese government’s wish to diversify its
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