The United States is planning to promote dollar stablecoins overseas in an effort to strengthen its position as a reserve currency.

According to Jinse Finance APP, sources have revealed that the Trump administration is considering an initiative to promote US dollar-pegged stablecoins overseas, aiming to strengthen the dollar's status as a global reserve asset. The sources indicated that the stablecoin project is one of the areas the US government is considering supporting through joint ventures with private sector entities, with the goal of maintaining the dollar's monetary dominance and boosting demand for US Treasuries. Stablecoin issuers typically use cash and short-term government debt as token reserves.

Some sources said this move could involve multiple federal agencies, including the Treasury Department and the US State Department. The US International Development Finance Corporation (DFC) may also participate. The Treasury and the White House did not respond to requests for comment. Representatives of the State Department and DFC declined to comment. The DFC collaborates with private sector entities to advance US foreign policy objectives and is led by Ben Black, son of Apollo Global Management co-founder Leon Black.

Stablecoins are digital assets usually pegged to fiat currencies. Their popularity continues to rise as financial companies increasingly adopt them, and the vast majority in circulation are anchored to the US dollar. Last year, Trump signed the GENIUS Act into law, establishing a federal regulatory framework for stablecoins that requires issuers to hold reserves, including US dollars and short-term US Treasuries. US Treasury Secretary Scott Bessent also stated that the growth of stablecoins could strengthen the dollar's role as the world's reserve currency.

Meanwhile, global economies are joining forces to launch new digital payment infrastructures, such as through the Project mBridge initiative, a multilateral central bank digital currency bridge. China's digital yuan is one of the digital currencies utilized on this network. The European Central Bank is also advancing its digital euro program and this week launched a project to connect the blockchain market with the region's existing payment systems.