Stablecoin issuers, led by Tether as the seventh-largest foreign buyer of U.S. Treasury securities in 2024 and combined with Circle as the 18th-largest holder, have emerged as a sophisticated debt-financing mechanism for the U.S., surpassing nations like Canada and Germany, despite political debates over deficit spending.

Stablecoin issuers, led by Tether as the seventh-largest foreign buyer of U.S. Treasury securities in 2024 and combined with Circle as the 18th-largest holder, have emerged as a sophisticated debt-financing mechanism for the U.S., surpassing nations like Canada and Germany, despite political debates over deficit spending.
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