Stablecoin

Impact

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/circle-ceo-predicts-stablecoin-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Circle CEO Predicts Stablecoin Surge</a><br></p>
<p style="text-align: justify">Jeremy Allaire, CEO of Circle, has made a striking forecast regarding the future role of stablecoins in the global economy. He predicts that within the next ten years, stablecoins could account for 10% of the world’s economic money supply. This bold assertion is supported by several key factors that Allaire believes will drive the rapid growth and widespread adoption of stablecoins <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">in the near future</a>.</p>
<h2 id="what-drives-stablecoin-adoption">What Drives Stablecoin Adoption?</h2>
<p style="text-align: justify">Allaire emphasized the involvement of major payment companies in embracing Blockchain technology and stablecoins. As the advantages of public Blockchains and stablecoins become increasingly evident, more companies are integrating this technology into their operations. This trend, supported by significant financial players, is expected to boost the use of stablecoins substantially.</p>
<p style="text-align: justify">The market potential for stablecoins is vast, having already reached billions of dollars. One of the main benefits of digital dollars on Blockchains is their ability to promote financial inclusion. Allaire pointed out that stablecoins can assist unbanked individuals in gaining access to <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">banking</a> services, reduce money transfer costs, and facilitate cross-border trade. These benefits are expected to drive the widespread adoption and acceptance of stablecoins as a digital currency.</p>
<h2 id="how-will-stablecoins-impact-the-market">How Will Stablecoins Impact the Market?</h2>
<p style="text-align: justify">Currently valued at $162 billion, the stablecoin market represents a mere 0.2% of the $80 trillion money market. For Allaire’s prediction to come to fruition, the stablecoin market would need to grow at an annual compound rate of 47.7%. This substantial growth rate underscores the transformative potential of stablecoins in the global financial ecosystem.</p>
<p style="text-align: justify">Data from crypto platform CoinGecko highlights that USD Coin (USDC), a US dollar stablecoin issued by Circle, is the second-largest stablecoin with a market value of $32.8 billion. While <a href="https://en.bitcoinhaber.net/hong-kongs-tight-grip-the-implications-of-new-stablecoin-regulations" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tether</a>‘s USDT is the largest stablecoin, USDC’s significant market presence points to its importance and future growth potential.</p>
<h2 id="implications-for-financial-inclusion">Implications for Financial Inclusion</h2>
<p style="text-align: justify">– Stablecoins can provide banking access to unbanked populations.<br> – They offer a cost-effective solution for international money transfers.<br> – Stablecoins facilitate smoother cross-border trade.<br> – Increased usage of stablecoins could lead to higher financial inclusion globally.</p>
<p style="text-align: justify">Moreover, Allaire’s optimism extends to the broader cryptocurrency market, anticipating billions of users and millions of applications over the next decade. This high adoption rate could enable a greater volume of trade and financial transactions through smart contracts on public Blockchain infrastructures. Although specifics on sectors or mechanisms were not detailed, Allaire suggested that on-chain data providers might eventually surpass traditional multinational corporations in performance.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/circle-ceo-predicts-stablecoin-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Circle CEO Predicts Stablecoin Surge</a></h5>

Circle CEO Predicts Stablecoin Surge

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