{
  "id": 7607842,
  "title": "Stablecoin growth could boost dollar dominance, US Treasury demand: BoE official",
  "url": "https://urgent.news/2026/09/15/stablecoin-growth-could-boost-dollar-dominance-us-treasury-demand-boe",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-15T17:53:04.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/stablecoins-us-dollar-dominance-treasury-demand-boe"
  },
  "original_language": "en",
  "account": "Carolyn Wilkins, a Bank of England policy maker, suggested that digital dollars and stablecoins could bolster the US dollar's global dominance and boost demand for US Treasurys. During a speech at Queen’s University Belfast, Wilkins noted that dollar-denominated stablecoins could streamline cross-border settlements, broaden access to dollar-linked assets outside the US, and spur demand for Treasurys used as reserves. Notably, the biggest stablecoin issuers like Tether’s USDT and Circle’s USDC already hold significant stakes in US government debt. For instance, they collectively owned nearly $150 billion in Treasury bills by the end of 2025 and purchased about $33 billion worth during the year. However, Wilkins cautioned that stablecoins could also have adverse effects. At a large scale, massive redemptions of stablecoins might force issuers to sell Treasury bills, potentially exacerbating market volatility. The rise of stablecoins is evident, with over $300 billion currently in circulation. The overwhelming majority of this value is tied to the US dollar, which enjoys a first-mover advantage and accounts for 98% of stablecoin value. In contrast, UK pound-denominated stablecoins have lagged behind, despite UK regulators taking recent steps to foster their development. The FCA initiated a testing program for prospective stablecoin issuers through a regulatory sandbox, finalized rules for UK stablecoin issuance in June, and experimented with a digital pound alongside stablecoins for cross-border trade payments. This shift follows a more accommodating stance from the Bank of England towards stablecoins, following criticism that its initial rules might stifle innovation.",
  "summary": "A Bank of England policy maker said digital dollars could expand access to the US currency while turning stablecoin issuers into bigger buyers of government debt.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Ottawa Citizen",
        "title": "News of the day: Treasury Board official recommends end to publicly reporting Phoenix costs; The trial that decided if a man outwrestled a bear; Ottawa Senators sign Drake Batherson",
        "url": "https://urgent.news/2026/09/15/news-of-the-day-treasury-board-official-recommends-end-to-publicly",
        "published": "2026-09-15T20:45:20.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}