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Circle CEO: Stablecoins will account for 10% of currencies in the next decade or so

Circle CEO: Stablecoins will account for 10% of currencies in the next decade or so

CointimeCointime2024/06/20 01:40
By:Cointime

Jeremy Allaire, the CEO of stablecoin issuer Circle, stated that stablecoins may account for 10% of the "global economic currency" in the next ten years or longer. Allaire pointed out several factors that may lead to exponential growth in the adoption of stablecoins in the "next 10 years or more." Allaire stated that as the benefits of public chains and stablecoins gradually become apparent, most of the world's largest payment companies are actively using this technology and exploring how to expand its use.

Allaire stated that the potential market size is "billions of dollars," and releasing digital dollars on the blockchain can fulfill the promise of providing banking services to those without bank accounts, reduce remittance costs, and achieve seamless cross-border trade. Stablecoins are becoming an increasingly accepted form of digital currency, and by the end of 2025, stablecoins will occupy a "growing share" of the $100 trillion global electronic currency market.

Data from the "World Population Review" shows that the stablecoin market, currently worth $162 billion, accounts for 0.2% of the $80 trillion currency market.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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