Olivia Asher is a reporter at the New Herald Tribune covering breaking news for the Digital Trends Desk. Before joining the newsroom in 2022, she covered criminal justice issues at the Orlando Plain Dealer.
November 17 , 2025
Washington, D.C. — The U.S. Department of the Treasury announced today its intention to launch a government-backed digital currency, a blockchain-based stablecoin pegged to the U.S. dollar. The new token will feature a rendering of President Donald Trump’s official portrait, the department said in a press release.
According to Treasury officials, the initiative aims to integrate traditional currency stability with emerging financial technologies. The stablecoin will be backed one-to-one by U.S. reserves and issued through a federally regulated network of financial institutions. Officials emphasized that the move seeks to preserve the dollar’s dominance in the global digital market.
The inclusion of Trump’s portrait was described by the Treasury Department as a design choice rooted in continuity. “Each administration contributes to the evolution of U.S. currency design,” said Treasury Spokesperson Alan Chen. “As Trump has emphatically pressed for the adoption of digital currency, it only makes sense to put his image on the first digital dollar.”
The announcement prompted mixed reactions from lawmakers and financial analysts. Supporters argue that a U.S.-backed stablecoin could reduce volatility seen in private cryptocurrencies. Critics, however, voiced concern over the symbolic implications of depicting a living president on digital currency and questioned the broader policy motives behind the project.
The Treasury confirmed that pilot testing would begin with select federal contractors and partner banks early next year. Public rollout is scheduled for late 2026, pending congressional oversight and regulatory review by the Federal Reserve.
The development marks one of the most significant steps toward a fully digital form of government money, signaling a new phase in how the United States conceives, issues, and circulates value in a globalized economy.
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