美国考虑在海外推广美元支持的稳定币：彭博社

The Trump administration is considering promoting the overseas expansion of the U.S. dollar stablecoins to consolidate the U.S. dollar's reserve currency status.

According to Bloomberg, the Trump administration is mulling a new initiative aimed at expanding the use of U.S. dollar-backed stablecoins outside the United States. The United States positions this action as a means to strengthen the role of the US dollar as a global reserve currency. The plan may involve government support for stablecoin projects through joint ventures with corporate partners and is expected to involve multiple federal agencies.

Summary of core points

• Overseas promotion strategy: Bloomberg pointed out that the United States is considering cooperating with private companies to promote dollar-backed stablecoins overseas.
• Multi-departmental collaboration: The proposed initiative may involve multiple agencies such as the Treasury Department, the State Department, and the U.S. International Development Finance Corporation (DFC).
• Policy logic: The main reason is to expand the international utilization of the U.S. dollar stablecoin, which in turn potentially increases the demand for U.S. Treasury bonds.
• Competitive background: The move comes amid the development of cross-border digital payment systems and central bank digital currency (CBDC) pilots in other regions.
• Official stance: U.S. officials have previously linked the growth of stablecoins to maintaining the dominance of the U.S. dollar and supporting the U.S. government debt market.

Specific content considered by the administration

Bloomberg quoted people familiar with the matter as saying that the U.S. government may support overseas stablecoin projects by establishing joint ventures with private sector companies. Although the report did not specify a specific timetable or detailed project plan, it described the concept as aimed at expanding the international influence of dollar-denominated stablecoins.

The institutional coverage of the plan is equally eye-catching. Bloomberg named the Treasury Department, the State Department and the U.S. International Development Finance Corporation (DFC) as all possible participating in the work.

The logic elaborated in the report is closely related to the structure of dollar-backed stablecoins. Since many of these tokens are designed to remain pegged to the U.S. dollar, and their reserve assets are often associated with treasury bonds and other dollar-denominated instruments, expanded use overseas may translate into greater demand for reserve assets related to the token ecosystem.

Why "dollar dominance" is a policy driver

This stablecoin proposal is in line with a broader theme reflected in previous remarks by senior U.S. officials: that the adoption of stablecoins could strengthen the dollar's international standing and boost demand in U.S. financial markets.

In February 2025, David Sacks, a venture capitalist at the time of the White House's cryptocurrency and artificial intelligence czar, said that stablecoins could "extend the dollar's dominance internationally," adding that the space could create trillions of dollars in additional U.S. government debt needs. While these numbers are forecasts rather than fait accompli, they reflect the administration's view of stablecoins as part of the dollar's central economic influence.

Then in July 2025, U.S. Treasury Secretary Scott Bessent linked stablecoin regulation to reserve currency targets. He said the GENIUS Act-legislation establishing a federal framework for payment stablecoins-could strengthen the dollar's status as the world's reserve currency, broaden access to "dollar economies" and increase demand for U.S. Treasuries.

Since then, the Ministry of Finance has continued to promote implementation work. On August 17, the Ministry of Finance issued a proposed rule-making notice to solicit public comments on regulations covering the issuance, quotation and sale of payment stablecoins. Basent described the rules as part of an effort to consolidate the dollar's reserve currency status.

Taken together, the overseas move described by Bloomberg appears to be extending domestic regulatory approaches to external growth strategies, trying to align the expansion of stablecoins with U.S. strategic interests.

Global competition: Central bank digital currencies and cross-border digital tracks

据报道的稳定币推进时机也反映了更广泛的地缘政治和基础设施趋势：各国和区域机构正在构建自己的数字支付框架，并试验央行数字货币。

此前有报道称，中国的数字人民币用于Project mBridge平台，该平台专为跨境央行数字货币交易而设计。在欧洲，据欧洲中央银行准备于2027年下半年开始为期12个月的数字欧元试点。

虽然稳定币和央行数字货币是不同的工具，但两者都旨在促进跨境数字价值转移。在此背景下，以美元支持型稳定币为中心的海外努力可被视为争夺国际支付流动中结算和流动性基础设施角色的竞争。

后续关注重点

媒体已联系美国财政部、美国国际发展金融公司以及几家位于美国的稳定币公司寻求评论，但在出版前未收到回复。这使得一些关键问题仍未得到解答，例如该倡议是否纯粹处于探索阶段、哪些司法管辖区可能成为首批目标，以及任何政府参与在实践中将如何构建。

投资者和建设者应密切关注具体细节，例如由哪个机构牵头、设想了何种类型的合作伙伴关系，以及行政当局的海外目标是否与稳定币储备实践和跨境合规要求挂钩的可衡量政策承诺相一致。