United

World

when

Optimism

In a bold forecast, Circle CEO Jeremy Allaire predicts that stablecoins could account for 10% of the global economic money within the next decade. Allaire believes several key factors could drive this exponential growth in stablecoin adoption over the coming years.
“Most of the world’s largest payments companies are actively using this technology and exploring how to expand their usage as the benefits of public chains and stablecoins become apparent to everyone,” Allaire stated in a June 19 <a href="https://x.com/jerallaire/status/1803432989113593890" rel="noopener noreferrer nofollow">post</a> on X.
<h2 id="span-style-font-weight-400-circle-ceo-talks-stablecoins-span">Circle CEO Talks Stablecoins</h2>
Allaire points out that the <a href="https://thecoinrise.com/stablecoin-market-cap-hits-161b-amid-eight-month-growth-streak/" rel="noopener noreferrer nofollow">market potential for stablecoins is vast</a>, with a significant addressable market size in the billions. The deployment of digital dollars on blockchains, he argues, can revolutionize the financial landscape by banking the unbanked, reducing remittance costs, and enabling seamless cross-border commerce.
Currently, the stablecoin market stands at $162 billion, a mere 0.2% of the $80 trillion money market, according to World Population Review data. Savings, money market, and checking accounts constitute around $26.4 trillion, $25 trillion, and $23.6 trillion, respectively, with an additional $5 trillion from mints.
<h3 id="span-style-font-weight-400-allaire-s-10-prediction-span">Allaire’s 10% Prediction</h3>
To achieve Allaire’s 10% prediction by 2034, the stablecoin market would need to grow at a compounded annual growth rate of 47.7%, assuming the $80 trillion money market remains constant. However, Allaire is confident that the adoption of stablecoins as a digital form of money will continue to rise, making up an increasingly larger portion of the world’s $100 trillion market for electronic money by the end of 2025.
“What does it look like when 10% of global economic money is stablecoins and when credit intermediation moves from fractional reserve lending to onchain credit markets?” Allaire speculated. He believes this transformation is achievable over the next decade.
<h2 id="span-style-font-weight-400-circle-ceo-s-optimism-span">Circle CEO’s Optimism</h2>
The United States dollar stablecoin issued by Circle, USD Coin (USDC), currently holds a market cap of $32.8 billion, making it the second-largest stablecoin behind <a href="https://thecoinrise.com/tether-launches-synthetic-dollar-on-tokenization-platform/" rel="noopener noreferrer nofollow">Tether (USDT)</a>, according to CoinGecko data. Allaire’s optimism extends beyond stablecoins, predicting that the crypto adoption could increase to “billions of users” across “millions of applications” in the next 10 years.
Allaire envisions a future where much of commerce and finance is executed through <a href="https://thecoinrise.com/us-senators-unveil-bill-to-ban-algorithmic-stablecoins/" rel="noopener noreferrer nofollow">smart contracts on public blockchain</a> infrastructure. He even suggests that some onchain organizations might outperform multinational corporations during this period, although he did not provide specific details on which sectors might see this transformation.
The post <a href="https://thecoinrise.com/circle-ceo-predicts-explosive-growth-for-stablecoins-over-the-next-decade/" rel="noopener noreferrer nofollow">Circle CEO Predicts Explosive Growth for Stablecoins Over the Next Decade</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Circle CEO Predicts Explosive Growth for Stablecoins Over the Next Decade

목차

TheCoinrise Media

2024년 6월 20일에 게재된 다른 기사

Bybit Web3 Unveils IDO 2.0, Enhancing User Experience and Security in Decentralized Fundraising

The Reason for the Decline in the Cryptocurrency Market May Have Been Revealed: CryptoQuant Expla...

India Fines Binance $2.25M for AML Violations: What’s Next?

Bitcoin Financial Platform Lava Unveils Exchange And Stable Payments

Argentina President Voices Support for Bitcoin, Eyeing Economic Revival

Bitcoin Price Drops Below $65,000

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!