Circle CEO Jeremy Allaire says that the stablecoin industry is set to flourish in the coming years.
In a new interview with CNBC Television, Allaire says that the modern features of stablecoins will allow the industry to see explosive growth over the next few years as demand for online digital dollars rises.
“Digital dollars that can be a strong store of value, a medium of exchange that have all the powers of the internet – that’s what dollar stablecoins do. Huge innovation [that] I expect to be explosive in terms of its growth in the coming years. Just a huge utility for dollars on the internet.
[There’s a] huge appetite for dollars on the internet. That’s a very big thing and that’s distinct from people who want a currency hedge so to speak, or a store-of-value hedge.”
According to Allaire, many investors are turning to digital assets – including Bitcoin (BTC) – as a hedge against risk, suggesting that the nascent industry is here to stay. However, he notes that BT
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