Macro· ★★★· neutral·

Global debt hits record $365T as stablecoin issuers ramp up Treasury demand

  • —Global debt hit a record $365 trillion, rising $10 trillion in six months
  • —Emerging market debt grew $6.5 trillion to $110 trillion, led by China
  • —Stablecoin issuers have added short-term Treasuries faster than Japan since 2023
  • —Issuer demand for short-term Treasuries could reach about $400 billion by 2030
Why it matters: Stablecoin issuers are becoming a notable source of demand for US Treasuries, tying the crypto market more closely to the global debt system and short-term yields.
Source: Cryptopolitan
More on this
Regulation · Sep 23
US Treasury: Stablecoin issuers hold nearly $200B in short-term government debt
 Markets · Sep 18
Global Unichip Hits Record High as AI Chip Demand Squeezes Bitcoin Mining
 Macro · Sep 26
Global debt tops $365 trillion as bitcoin and gold gain appeal as currency-debasement hedges