Why are governments issuing their own stablecoins?

[cryptoenthusiast]

Many countries are developing national stablecoins to modernize their financial infrastructure and stay competitive in a rapidly digitizing global economy. By tokenizing their fiat currency, governments can enable instant payments, automate financial processes, reduce transaction costs, and support new digital industries. National stablecoins also give governments a controlled way to participate in the Web3 ecosystem without relying on foreign or corporate tokens.

[Nahid Hossen]

They want to stay competitive as digital finance grows.

[Abdul Khan]

Issuing their own keeps them from relying solely on private issuers.