Jeremy Allaire: Stablecoins will soon make a revolution

The head of Circle Jeremy Allaire said that “stable coins” are on the verge of a technological revolution.

In his opinion, the developers have not yet realized the potential of programmable money, as they once did not see all the possibilities of mobile devices.

Allair compared the current situation with the early stage of the development of mobile technologies and called the stablecoins “the most useful form of money ever created.”

The CEO Circle comment was followed by the post of A16Z partner Sam Bronner, who noted that “stable coins” are increasing competition in the financial sector.

According to him, the ability to program money reduces the costs of creating financial products. This leads to improving prices, quality of services and expanding access for users.

The A16Z Analysis Specialist Dan Matsuoka brought statistics to confirm these words.

Over the past 12 months, the volume of transactions with stablecoins has exceeded $ 33 trillion. This indicator is almost 20 times higher than the volume of PayPal transactions and three times – VISA. According to Matsuoki, the turnover of stablecoins is approaching the indicators of the American system of interbank translations Ach.

Matsuoka believes that it is “stable coins” that can provide massive accepting cryptocurrencies.

“This is perhaps the first real opportunity to bring a billion people to the market,” he said.

On June 12, the Shopify e -commerce platform in partnership with Coinbase and Stripe added the opportunity to accept Circle USDC payments.

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Source: Cryptocurrency

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