- Allaire reiterated his heightened optimism over the ecosystem in his lengthy post.
- According to Allaire, stablecoins have helped spread digital money globally.
Jeremy Allaire, the founder of Circle Internet Financial Ltd, the firm behind USDC stablecoin, recently went on X to express his continued confidence for the future of cryptocurrency, especially stablecoins. He reiterated his heightened optimism over the ecosystem in his lengthy post. Allaire summarized the progress made by the cryptocurrency sector over the last several years.
During this period, he examined the innovations that the ecosystem had seen, such as the creation of Bitcoin. The founder of Circle brought attention to stablecoins and how they have taken over a part of the financial system, saying that their usage and scale have increased dramatically.
Quickly Gaining Traction
Moreover, according to Allaire, stablecoins have helped spread digital money globally. More individuals are participating in the future on-chain economy thanks to their usage, and the promise of banking the unbanked is beginning to materialize. In addition to facilitating easier cross-border business, stablecoins are driving down the price of remittances.
Legally recognized and widely used in many countries, this digital currency is quickly gaining traction. Allaire went on to say that stablecoins would be accepted as legal tender over the world by the year 2025, expanding on his previous statements.
From this vantage point, stablecoins might constitute about 10% of the world’s currency. Allaire is certain that his forecasts will be realized within the next decade. He finds hope in the fact that a lot has been accomplished so far and believes that much more might be accomplished in the next ten years.
Coins like USDT and USDC, which are stablecoins, have outperformed other digital assets, as Allaire predicted. Slowly but surely, companies are shifting their attention to stablecoins.
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