Jeremy Allaire, CEO of Circle, says that the dollar, euro, and every other fiat in the world will eventually become a cryptocurrency. Circle is a payment company backed by Goldman Sachs with mobile apps that allow users to invest in crypto and also send/receive cash to friends in 29 countries. It’s also involved in the creation of a stablecoin dubbed “USD Coin” tied to the US dollar.
Stablecoins allow price stability in the crytpo market and aren’t subject to volatile price movements. They allow users a way to store and trade cryptocurrencies and a way to store value for a period of time without volatility.
“Our focus with fiat stablecoins is we really think of it as a core building block for a crypto native global digital economy, our interest is in how do we take all of the tasks involved in the financial industry and move those onto a crypto native infrastructure.”
Allaire also said that their coin will allow for stronger regulations. Circle seems like it’s going full circle on cryptocurrency with a new coin and a CEO pioneering a path through the crytpo world. They also bought Delaware-based exchange Poloniex in February for a total of $400 million.
One of Circle’s chief traders told Forbes in an interview that when one thing “starts to get really out of whack really fast, that tends to be good for us.” He’s probably referring to the crytpo craze in general.
Long-time reader of crypto. One of the first graduating classes of Blockchain and Future Trends. Writer, journalist, and newbie technical analysis price speculator. Learning about the development of cryptocurrency and blockchain technology around the world is my job. ICOs, whitepapers, and cryptoculture are my things.
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