Reading Time: < 1 minute
November 25, 2020

Governance & Guardrails

Discussing the trebling of the stablecoin market and regulation with Circle and Blockchain.com

Featuring

(24:32/Nisa) The stablecoin market is on fire, as evidenced by the value of fiat-backed cryptocurrencies surpassing the $10 billion mark and having trebled year to date. The coronavirus pandemic has only accelerated growth and adoption, according to Circle CEO Jeremy Allaire.

(25:00) Circle’s stablecoin USDC has experienced dramatic growth across every major metric of late, which has correlated rather closely with the COVID pandemic. USDC supply has ballooned by well over 100% to nearly 1 billion coins in circulation, and the pace at which people are using it as a payment rail is growing exponentially. In addition, Circle is witnessing an increase in the number of USDC wallets and on-chain transactions have been moving steadily.

(27:02) “We’ve sort of staved off a financial crisis for now. But as this unfolds there is that risk,” said Allaire, adding: (27:20) “Dollarization is a global theme. It’s about Latin America, Africa, South Asia [and] other parts of the world where they do not have the firepower of the Fed, they do not have the fiscal means to counteract the incredible disruption that the pandemic is having on their economies.”

Share the love ❤️
Facebook
Twitter
LinkedIn
Gerelyn Terzo
Gerelyn caught wind of bitcoin in mid-2017 and after learning about the peer-to-peer nature of Satoshi's creation has never looked back. Previously she covered institutional investing and fintech for several major trade publications. Gerelyn resides in Verona, N.J.

All of the content published on this site is strictly for informational and educational purposes and neither does it constitute investment advice nor solicitation to buy or sell blockchain-based tokens or securities. No investments whatsoever should, therefore, be made based upon information provided or discussed by any guests or hosts appearing within this video or audio content.

Any appearance by any company or individual does not infer any kind of endorsement by Scrumline Ltd (trading as Coinscrum) of either their products and/or services or in any related investment opportunity that they may be pursuing from time to time.

Crypto-tokens and equity investments are high risk in nature and you should always take the advice of a professional financial advisor from within the jurisdiction in which you reside before making any investment decisions.

OUR
Sponsors