The Trump administration is considering an initiative to promote the use of dollar-denominated stablecoins overseas in a bid to reinforce the greenback's status as the world's reserve asset, people familiar with the plans told Bloomberg. Stablecoin projects are among the areas the US government is weighing support for by creating joint ventures with private-sector firms, aiming to maintain the dollar's preeminence and boost demand for US Treasuries, the people said, asking not to be named discussing private information. Stablecoin issuers typically hold the reserves backing their tokens in cash and short-term government debt.
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