On June 15th, Jeremy Aller, co-founder and CEO of Circle, posted on the X platform that stablecoins might be the most effective form of currency in history. But he added that the stablecoin industry has yet to undergo major changes similar to those triggered by Apple’s launch of the iPhone in 2007. Alaire mentioned that once the stablecoin industry enters this critical stage, developers will be able to unlock programmable digital dollars just like they can unlock programmable mobile phones. At that time, digital dollars will unleash huge potential and bring extensive opportunities on the Internet, and he believes that this era may not be far away.
Some members of the crypto community also believe that stablecoins have not yet become mainstream. Some users have pointed out that currently, stablecoins are relatively expensive compared to some other options and are only meaningful to a portion of customers. However, they predict that the cost of stablecoin transactions will change over time. Some users also mentioned that although the expansion of stablecoins in the credit card-dominated payment sector is currently quite limited, they have the potential to capture a significant share of the market in the future.
It is worth noting that just last month, Nobel laureate and economist Paul Krugman still claimed that “stablecoins have no obvious useful functions.”
Related topic:
- SEC Chair Paul Atkins supported decentralized finance and opposed forced intermediaries in his latest roundtable speech
- Visa and Chainlink have successfully completed the swap of central bank digital currencies and stablecoins between Hong Kong and Australia
- BlackRock’s IBIT rockets to $70B in 341 days, 5x faster than previous record
