Bessent says the US will win in digital assets and strengthen the dollar

Speaking at Ripple's Swell conference, the Treasury Secretary framed dollar-backed stablecoins as a strategic tool in a contest with China US Treasury Secretary Scott Bessent has a new pitch for keeping the dollar on top: stablecoins. Speaking at Ripple ’s Swell conference on October 27, 2026, he said the United States will win in digital assets and come out with a stronger dollar. Bessent cast the competition for global financial dominance as a technology race, with China as the main rival.