Jeremy Allaire, CEO of Circle, believes that additional regulatory clarity will pave the way for increased stablecoin adoption in 2024.
In a new interview with CNBC International TV, Allaire predicted that the recent approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States will act as a “tide that lifts all boats” in the cryptocurrency sector.
The Circle CEO points out that stablecoins have remained resilient despite the turbulence of the cryptocurrency industry over the past few years.
“What I can say about stablecoins and what we’ve seen in the market is that a lot of people are actually paying attention to a lot of scandals and failures and bankruptcies in this industry. Continuous technological development is underway.
This is a bit like what it was like after the dot-com boom and bust. People have ignored consumer internet e-commerce, but the technology has actually continued to advance. So we’ve seen that happen over the last year, and we’ve especially seen stablecoins remain popular. “We developed a killer app for blockchain technology and its usage began to expand globally.”
Circle issues USDC, the second largest stablecoin by market capitalization. Last week, the company announced that it had filed a draft registration statement with the U.S. Securities and Exchange Commission (SEC) in connection with its proposed initial public offering (IPO) of its equity securities.
me
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us TwitterFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created: DALLE3