MediaQSI said on September 21, 2026, that Treasury Secretary Scott Bessent cited Saudi Arabia’s departure from mBridge, which it described as a China-backed cross-border digital currency project. In his September 20 statement defending the U.S. economy, Bessent said the dollar was on one side of 89.2% of global foreign-exchange trades and that the principal stablecoins were dollar-denominated. He also said Treasury buybacks were intended to add liquidity and manage maturities, not control a market worth more than $30 trillion.