Reported about 2 months ago
In a surprising turn, crypto stablecoin issuers like Tether are emerging as players in the US Treasury market, seeking safe assets to back their tokens. While this development is touted by crypto advocates as a means to enhance financial stability, many bond market experts remain skeptical, noting that stablecoins account for only about 1% of Treasury bill purchases. Despite ambitions of growing their influence, analysts underscore that Tether's activities are unlikely to significantly impact overall market dynamics, especially given the vast scale of US government debt.
Source: YAHOO