The Federal Reserve meeting minutes mentioned that stablecoins could increase the demand for U.S. Treasury bonds

ChainCatcher news, according to Jinshi reports, the Federal Reserve released the minutes of the July meeting, mentioning that many participants discussed the recent and future developments of payment stablecoins and their impact on the financial system. Participants pointed out that with the passage of the GENIUS Act, the use of payment stablecoins may increase, thereby improving the efficiency of payment systems and potentially increasing the demand for the underlying assets that support them (including U.S. Treasury bonds). In addition, they expressed concerns that stablecoins could have broader implications for banks, the financial system, and the implementation of monetary policy.