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Burak Arikan
@arikan
According to Chainalysis, Turkey is the leading country for purchasing dollar stablecoins, accounting for 4% of its GDP. The US has found a new way to sell its debt through stablecoins, with issuers holding an equivalent value of T-bills. This strategy targets citizens of financially troubled countries like Turkey.
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Burak Arikan
@arikan
The US political class is now waking up to the fact that stablecoins are a new channel to sell US debt to the masses, primarily to citizens of financially troubled countries. https://www.wsj.com/articles/stablecoins-could-stave-off-a-us-debt-crisis-china-digital-currency-c491d717
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