Stablecoins Could Strengthen US Dollar, BoE Official Says

Stablecoins could boost US dollar and Treasury demand: BoE

Dollar stablecoins have grown to about $300 billion in circulation, prompting a Bank of England policymaker to warn that their expansion could increase demand for US Treasurys while creating new risks during periods of heavy redemptions. Stablecoins could extend the…

Stablecoins Could Strengthen US Dollar, BoE Official Says

Dollar stablecoins could deepen demand for Treasurys and extend the greenback’s reach as the UK builds its own framework for digital currencies.

BoE Official: Stablecoin Rise May Lift Dollar Dominance and Treasuries

Stablecoins are increasingly shaping the plumbing of global finance—and not just inside crypto. In remarks delivered at Queen’s University Belfast on Tuesday, Carolyn Wilkins, a member of the Bank of England’s Financial Policy Committee, warned that the fastest-growing “digital dollar” products could strengthen the US dollar’s international role while also creating new stresses for US Treasury markets. Wilkins’ core message was straightforward: …

Money and power: lessons from history for stablecoins and US dollar dominance – speech by Carolyn Wilkins