Stablecoin reserves in US Treasuries surpass those of many countries

CoinWorld News: According to CoinWorld, Wu Blockchain tweeted that Bitcoin OG Adam Back pointed out that stablecoin issuers have become important buyers of U.S. Treasury bonds, holding massive reserves of U.S. Treasuries, even surpassing some major countries. He believes that this convenient, low-friction "new business model" is driving a growing willingness in the market to issue more stablecoins.