Stablecoins could capture 5%-10% of the global money supply within the next decade, according to Circle CEO Jeremy Allaire. Allaire predicts that stablecoin regulations will become more prevalent in the next year, with many G20 countries and emerging markets implementing laws by the end of 2025. The stablecoin market could potentially grow to a $5-$10 trillion market as digital money adoption continues to spread. Stablecoins are increasingly being used for everyday economic activities, such as payments and remittances, particularly in countries with less robust banking systems and devaluing local currencies. Circle's USDC token, the second-largest stablecoin, has seen significant growth in developed markets, but Allaire anticipates further growth in emerging markets, particularly in fintech services for local businesses and households. Allaire also emphasized the importance of stablecoin regulations, noting that many major financial hubs already have or are in the process of implementing stablecoin laws.
- Content Editor ( coindesk.com )
- 2024-10-24
Circle's Allaire: Stablecoins Could Expand by Trillions in 10 Years, Will Be Integral Part of Global Financial System