Circle chief executive Jeremy Allaire thinks additional regulatory clarity will pave the way for increased stablecoin adoption in 2024.
In a new interview with CNBC International TV, Allaire predicts that the recent approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) in the US will act as “the tide that lifts all boats” in the crypto sector.
The Circle CEO notes stablecoins remained resilient throughout the crypto space’s turbulence over the past few years.
“What I can say about stablecoins and what we’ve seen in the market is really a lot of people were paying attention to a lot of the scandals in this industry, and failures and bankruptcies, but at the same time, we were seeing tremendous progress being made in continued technology development.
And this is a little bit like after the dot com boom and bust – people ignored consumer internet e-commerce, but actually the technology continued to develop, and so we saw that happen last year, and we’ve seen stablecoins in particular remain the killer app of blockchain technology and start to see widening usage all around the world.”
Circle issues USDC, the second-largest stablecoin by market cap. Last week, the company announced that it submitted a draft registration statement to the U.S. Securities and Exchange Commission (SEC) related to a proposed initial public offering (IPO) of its equity securities.
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
The post Stablecoins Remain Blockchain and Crypto’s ‘Killer App’ Amid Tech Advancements, Says Circle CEO Jeremy Allaire appeared first on The Daily Hodl.
