Stablecoins as Fiscal Weapons: How U.S. Dollar Power is Re-Distributed

Stablecoins are emerging as a powerful fiscal tool for the US, channeling offshore dollars and savings from developing countries back into US Treasuries. Tech platforms like WhatsApp may act as Trojan horses, embedding stablecoin wallets within everyday life to shift dollar power away from states and towards individuals. Mass adoption of dollar-stablecoins could drive the next DeFi cycle, expanding liquidity, reinforcing digital dollar hegemony while simultaneously raising systemic risks.