The United States Treasury Department is taking an interest in stablecoins and tokenization.
Stablecoins seem to be increasing demand for short-term United States government bonds known as Treasury bills, according to US Department of the Treasury meeting minutes published Oct. 30.
In an Oct. 29 meeting, the US Treasury’s Borrowing Advisory Committee weighed the benefits of stablecoin adoption and Treasury bill tokenization, with one member suggesting the US create a permissioned blockchain for T-bills, the minutes said.
The comments are the latest from US government officials indicating a nascent openness to meaningfully integrating blockchain technologies into the US financial system.
