US Treasury Secretary: stablecoins are expected to bring demand for US $2 trillion Treasury bonds

According to Coinpedia, US Treasury Secretary Scott Bessent said in a recent interview that stablecoins could generate short-term demand of $2 trillion for US Treasury bonds and treasury securities, much higher than the current $300 billion.
Bessent reiterated the Trump administration's strong support for cryptocurrency innovation, criticizing the previous administration's damaging regulatory stance. He promised to encourage sustainable innovation through a balanced and improved regulatory framework.
Stablecoins such as Tether (USDT) are typically backed 1:1 in fiat currencies such as the U.S. dollar and hold reserves in current assets, including government bonds. As these tokens gain wider adoption, their issuers are becoming significant buyers of U.S. debt instruments.
Meanwhile, the US Senate is preparing a stablecoin regulation bill that is expected to provide legal clarity and drive institutional adoption. Market rumors suggest that Fidelity and JPMorgan may soon issue their own stablecoins.