Friday 5th September 2025

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The US recently passed The Genius Act, which entrenches the role of Stablecoin in the US economy. Scott Bessent thinks the requirement for Stablecoin operators to back their issuance 1:1 with US currency safe assets, like government securities, will increase demand for US Treasuries and lower borrowing costs. Is it a genius plan or just wishful thinking? Phil puts that question to Simon French, managing director of Panmure Liberum, the UK’s largest independent investment bank. In a recent column in The Times Simon argued that the UK and other governments and central banks need to embrace the technology or risk even more finance concentrated on US currency and assets.

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