US considers plan to promote dollar-backed crypto stablecoins globally

The US government is building a multi-pronged strategy to push dollar-backed stablecoins into global markets, treating the technology less like a crypto curiosity and more like a geopolitical tool. The effort ties together executive orders, federal legislation, and central bank rhetoric into a single thesis: if the world’s money is going digital, Washington wants to make sure it stays denominated in dollars. Over 98% of the global stablecoin supply is already pegged to the greenback. The goal now is to make that dominance permanent, and to use it as a channel for funneling foreign capital into US Treasuries. The regulatory scaffolding taking shape The groundwork started on January 23, 2025, when President Trump signed an executive order explicitly calling for the promotion of lawful dollar-backed stablecoins. The directive framed stablecoins not as a peripheral fintech product but as infrastructure critical to maintaining US dollar sovereignty in a rapidly digitizing global economy. That executive order found its legislative counterpart in the GENIUS Act, signed into law on July 18, 2025. The bill created the first comprehensive federal regulatory structure for payment stablecoins,...