CoinMeta data: Global debt reached a record $365 trillion in 2026, with digital currencies playing an important role in the financing system. The International Financial Association recorded the latest debt levels at the beginning of the year, while research published by the Federal Reserve Bank of San Francisco indicates that stablecoin issuers are becoming significant buyers of U.S. Treasury bonds, supporting the high debt levels. In the past six months, global debt has increased by $10 trillion, mainly due to lending in emerging markets, investment in artificial intelligence infrastructure, and military spending. Debt in emerging markets has risen by $6.5 trillion to reach $110 trillion, with China being the largest contributor.