Currency of Power

Currency of Power

How Stablecoins Are Cementing US Dollar Hegemony for Decades to Come

Or why America will never reindustrialise

Nicolas Colin's avatar
Marieke Flament's avatar
Nicolas Colin and Marieke Flament
Jun 24, 2025
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100 us dollar bill
Credit: Live Richer (Unsplash)

Treasury Secretary Scott Bessent's recent projection of a $3.7 trillion stablecoin market captures the transformative potential of stablecoins from an American perspective. His vision would drive massive demand for US Treasuries, lower government borrowing costs, and onboard millions globally to the dollar-based digital eco…

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