According to Odaily Planet Daily, U.S. Treasury Secretary Benson is betting that the cryptocurrency industry will become a key buyer of U.S. Treasury bonds in the coming years as the U.S. government seeks to support demand for massive new bonds.

Besant has sought information from major stablecoin issuers such as Tether and Circle, and those discussions have influenced the Treasury Department’s plans to increase sales of short-term Treasury bills in coming quarters, people familiar with the matter said.

The U.S. Treasury hopes stablecoins will become a key source of demand for U.S. government bonds, the latest sign that the White House is pushing cryptocurrencies into the heart of American finance. Jay Barry, head of global rates strategy at JPMorgan Chase, one of the largest dealers in the U.S. bond market, said: "(Secretary Bessant and the Treasury) absolutely believe that stablecoins will be a real source of new demand for U.S. Treasuries. That's definitely why he feels comfortable (with increasing the proportion of short-term debt issuance)." (Jinshi)