10 Mar 2025
HUD Explores Blockchain and Stablecoin Use
The US Department of Housing and Urban Development is reportedly considering utilizing blockchain technology and stablecoins for its operations. The department, responsible for managing social housing, has discussed the potential use of blockchain for monitoring grants. There were also talks about experimenting with paying a HUD grantee using a stablecoin, initially testing it in one office before expanding it. Some officials believe this blockchain experiment could pave the way for broader crypto and blockchain adoption in the federal government. Despite initial skepticism and concerns about volatility, there are discussions about implementing blockchain agency-wide, starting with the Community Planning and Development office. However, a HUD spokesperson denied any immediate plans for blockchain or stablecoin implementation. This move aligns with President Trump's interest in the crypto industry and echoes Elon Musk's cost-cutting strategies. Treasury Secretary Scott Bessent also emphasized the importance of stablecoins in maintaining the US dollar's dominance.
