Stablecoin Issuers Add $200 Billion in Treasuries—Offsetting 40% of China’s Pullback

Global Debt Surges to $365T as Stablecoins Fuel Growing Treasury Demand

TL;DR Global debt reached a record $365 trillion in the first half of 2026, adding $10 trillion in six months. Emerging-market debt increased by $6.5 trillion to $110 trillion, led by China. Meanwhile, stablecoin issuers are becoming an increasingly important source of Treasury demand, with the San Francisco Fed estimating that their short-term Treasury holdings ...

Stablecoin Issuers Replace 40% of China’s Lost US Treasury Demand

As foreign official holdings retreat, crypto firms are identified by the San Francisco Fed as an increasingly meaningful source of demand for United States debt. As foreign official holdings lose ground, new demand for United States government debt is being generated by emerging stablecoin issuers. Over the past five years, approximately $200 billion in Treasury […]

Stablecoin Issuers Add $200 Billion in Treasuries—Offsetting 40% of China’s Pullback

Stablecoin issuers added roughly $200 billion in Treasury holdings over five years, offsetting more than 40% of China’s decline, according to the San Francisco Fed.

Stablecoin issuers have replaced 40% of China’s lost US Treasury demand

Stablecoin issuers are emerging as a new source of demand for US government debt as foreign official holdings lose ground. Tether and Circle have increased their Treasury securities and repurchase-agreement holdings by about $200 billion over the past five years, equivalent to more than 40% of the decline in China’s Treasury holdings over the same […]

San Francisco Fed study finds stablecoin Treasury growth offsets China's retreat

A San Francisco Fed study finds stablecoin issuers added about $200 billion in Treasuries, offsetting over 40% of China's decline in holdings.

Stablecoin Treasury Growth Partly Offsets China’s Retreat, SF Fed Study Finds

Issuers favor short-term debt, while China’s decline is mostly in longer-dated securities. The authors say additional demand depends on who buys stablecoins.... Read the full story at The Defiant