Miami's Crypto Chief Backs $FUSD to Fight Debt with Appreciating Stability

Miami-Dade County’s cryptocurrency task force chairman has publicly endorsed $FUSD, an appreciating stable token, as a potential tool to address the county’s $400 million debt crisis. Elijah John Bowdre, head of the task force, highlighted the token’s design for both stability and appreciation, aligning it with Miami’s broader strategy to integrate digital assets into municipal operations [1]. The proposal is part of a growing initiative to leverage crypto-based solutions for public finance, including the tokenization of government debt and the use of yield-bearing assets to mitigate the impact of inflation on county finances [1].

$FUSD is an appreciating stablecoin launched in July 2025 by FUSD Crypto, a division of The CMC Group. Its unique mechanism allows the token to maintain a steady store of value while increasing in net worth over time through a dynamic price model. Purchases and sales trigger minting and burning processes, with a small tax on transactions reinvested into liquidity, ensuring continuous value growth for token holders [1]. This structure distinguishes $FUSD from traditional stablecoins like USDC or USDT, which Bowdre noted are vulnerable to the same inflationary pressures as the U.S. dollar [1].

Under Bowdre’s leadership, Miami has pioneered the use of crypto in municipal governance, including the acceptance of digital currencies for tax payments and employee salaries, and the development of blockchain-based public services. The city has also explored how yield-bearing digital assets can reduce government debt by generating returns that offset inflationary losses. Bowdre has proposed raising $1 billion through the tokenization of public debt, using $FUSD and similar instruments to generate income that could benefit both the county and its residents [1].

Bowdre emphasized the potential of $FUSD to contribute to long-term fiscal stability and growth. Unlike conventional stablecoins, which are pegged to fiat currencies and thus subject to inflation, $FUSD offers a model that combines stability with appreciation, allowing the county to preserve and grow value over time [1]. He noted that this approach supports the city’s broader goals of innovation and financial resilience while minimizing risk through measured, sustainable token models [1].

The endorsement of $FUSD underscores Miami’s leadership in community-driven crypto policy and its commitment to exploring novel financial instruments. Bowdre has previously spearheaded legislation to integrate blockchain into public administration and has led international delegations to promote the city’s digital innovation agenda [1]. His support for $FUSD reflects a strategic alignment with technologies that enhance municipal fiscal health and provide scalable, transparent solutions for public finance [1].

Source: [1] https://www.benzinga.com/pressreleases/25/09/47536670/miami-dade-cryptocurrency-chair-supports-fusd-appreciating-stable-token-to-possibly-address-400m-mi