Goldman Sachs (NYSE:GS) expects the global stablecoin market to expand into the trillions of dollars in the coming years, a forecast that underscores Treasury Secretary Scott Bessent‘s efforts to position the sector as a major buyer of US government debt.
What Happened: Stablecoins, digital tokens typically pegged to the US dollar and backed by safe assets such as Treasury bills, currently account for about $250 billion in circulation.
Goldman analysts and other market observers see that figure rising dramatically as adoption accelerates, potentially reshaping both crypto markets and traditional finance, The Financial Times reported on Wednesday.
Bessent has taken note.
According to people familiar with the matter, he has engaged directly with leading stablecoin issuers, including Tether (CRYPTO: USDT) and …