Circle CEO Says USDC Outpacing Other Stablecoins, Adding Tether’s Greatest Feature is ‘Opacity’

2020-1-4 23:34

Jeremy Allaire, co-founder, and CEO of Circle, a peer-to-peer payments technology company is making the prediction for 2020.

His predictions are solely focused on stablecoins that he believes will continue to show prowess this year.

“While the media gets spun-up about CDEP and Libra, the industry continues to build. 2020 will continue to be a major year for stablecoins,” said Allaire.

According to him, mainstream use-cases will be built on the fiat-backed digital currency on public chains.

Why hyping on Libra and CBDC? Look at USDC

He points out how the media and industry are hyping over the un-launched stablecoins, which could be social media giant Facebook’s Libra which is expected to launch this year but has been gaining extreme criticism from the regulators all over the world.

Allaire says while those stablecoins and central bank digital currencies are seeing all the limelight, the crypto industry is already seeing USDC’s continued outpacing with about $520 million USDC in circulation.

ERC20 token USD Coin (USDC) is a stablecoin backed by US dollars, which are “held in reserve by regulated financial institutions.” It is the brainchild of CENTRE, an open-source technology bootstrapped by a contribution from Circle and US-based crypto exchange Coinbase.

Others suffering while Tether’s greatest feature is opacity

While USDC has been growing, Allaire points out PAX has flat-lined at $240 million, TUSD in rapid decline and GUSD and BUSD are DOA (dead on arrival).

However, he does note Tether’s dominance, stating, “Tether continues to be largest stablecoin, offering an attractive option as an unregulated offshore USD shadow banking solution for China and Asia.”

But not before taking a jab at its lack of transparency about its fiat backing. In April this year, it has been revealed that USDT, the most popular stablecoin and 4th largest digital currency by market cap is only 74% backed by fiat.

“It's greatest feature is its non-compliance and opacity,” said Allaire.

Apart from stablecoins, Allaire added about Decentralized Financing (DeFi), saying “DeFi scaling up open finance.”

DeFi is a conventional financial tool built on the blockchain. Currently, $678 million are locked in DeFi, up 133% from $290 million in January, as per DeFi Pulse.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ceocoin (CEO) íà Currencies.ru

$ 0.00304614 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Äîñòóïíî / Âñåãî 0 CEO

circle stablecoins ceo solely focused 2020 predictions

Èñòî÷íèê: bitcoinexchangeguide.com

circle stablecoins → Ðåçóëüòàòîâ: 59


Ôîòî:

USDC Audit Confirms Circulating Supply Up 50% This Year

Wednesday saw Circle release the results of the latest audit performed on the current supply of USDC, and the reserves of fiat the tokens are pegged to. According to the numbers, not only does the company have over 50% more stablecoins in circulation than it did in January, but it also has enough US Dollars […] The post USDC Audit Confirms Circulating Supply Up 50% This Year appeared first on BeInCrypto.

2019-11-21 10:31


Circle CEO Views Libra As Having “Massive” Impact On Crypto Awareness, Accelerate Policy Making

CEO of Circle, Jeremy Allaire discussed the current activity taking place within the crypto sphere, with news outlet, Bloomberg’s Joe Weisenthal and Romaine Bostick on Friday, July 5, 2019. Some of the topics that the discussion was founded on include Facebook’s endeavor, Libra, how Libra is one of two different types of stablecoins and how […]

2019-7-7 18:58


Ôîòî:

The Next Big Innovation in Crypto Trading: Delta Exchange’s Stablecoin-settled Futures

Speculation still remains the number one use case for cryptocurrencies. The launch of stablecoins, especially USDT, led to an explosion in spot crypto-to-crypto trading. Delta-Exchange believes that its USDC (a Circle backed stablecoin pegged to the US Dollar) settled futures will have similar impact on the leveraged or margin trading of cryptocurrencies such as bitcoin.

2019-2-12 10:53


Ôîòî:

BitGo Adds Support For Stablecoins; Set Sights on Listing 100 Cryptos and Tokens By the End of 2018

BitGo, a California-based blockchain security firm, digital assets wallet provider and custodian has announced it’s now supporting the major stablecoins  currently on the market, including Circle’s USDCoin (USDC), Gemini  Dollar (GUSD), Paxos Standard Token (PAX), and more, according to a Finance Magnates report on November 15, 2018.

2018-11-18 20:00


Ôîòî:

BitGo Adds Support For Stablecoins; Set Sights on Listing 100 Cryptos and Tokens by the End of 2018

BitGo, a California-based blockchain security firm, digital assets wallet provider and custodian has announced it’s now supporting the major stablecoins  currently on the market, including Circle’s USDCoin (USDC), Gemini  Dollar (GUSD), Paxos Standard Token (PAX), and more, according to a Finance Magnates report on November 15, 2018.

2018-11-18 20:00


Ôîòî:

CoinJar Cryptocurrency Exchange Founder Says Stablecoin Will Transform the Crypto World

At a time when stablecoins have become the rave of the moment in the cryptoverse, with several startups from Circle Internet Financial, Gemini, and others launching own dollar-backed altcoins, Asher Tan, the co-founder of CoinJar, a digital assets platform, has predicted a bright future for the price-steady alternatives according to a Financial Review report on November 12, 2018.

2018-11-13 06:00


Ôîòî:

Coinbase Introduces Circle’s Center Stablecoin on Exchange, Critics Cry Foul

Cryptocurrency giants Coinbase and Circle recently announced on October 23, 2018, the addition of the Center (USDC) stablecoin on the former’s exchange. According to the Coinbase blog, it is the first time the cryptocurrency exchange has supported a stablecoin which it believes is fundamentally different from any existing stablecoins in the market.

2018-10-24 18:00


Ôîòî:

Bitcoin Payments Provider BitPay Adds Gemini Dollar and USD//Coin as Settlement Options

Cryptocurrency payments provider BitPay added two stablecoins for fiat-equivalent settlements at merchant-level on Oct. 15, according to a press release. Stablecoin Usage Gaining Traction Seeing a significant demand for the usage of credible stablecoins in the cryptocurrency market, BitPay added Circle’s Centre USD//Coin (USDC) and the Gemini Dollar (GUSD) – both pegged on a 1-to-1 basis […] The post Bitcoin Payments Provider BitPay Adds Gemini Dollar and USD//Coin as Settlement Options appeared first on CryptoSlate.

2018-10-17 16:00


Ôîòî:

Huobi Joins OKEx in Adding Four New Stablecoins

Huobi Global has announced its decision to list four USD-pegged stablecoins by the end of the week. In a support notice published on its platform, the company noted that users will be able to make deposits for Paxos Standard Token (PAX), True USD (TUSD), Circle’s (USDC), and Gemini exchange’s (GUSD) on its exchange starting from Friday, October 19, 2018 (GMT +8).

2018-10-17 21:15


BitPay äîáàâèëà ïîääåðæêó äâóõ ñòåéáëêîèíîâ

Ïðîöåññèíãîâûé ñåðâèñ bitcoin-ïëàòåæåé BitPay îáúÿâèë î äîáàâëåíèè ïîääåðæêè äâóõ ñòåéáëêîèíîâ — USD Coin (USDC) îò áëîê÷åéí-ñòàðòàïà Circle è Gemini Dollar (GUSD) îò áðàòüåâ Óèíêëâîññ. BitPay Introduces Stable Coin Settlements in Gemini Dollars and Circle USD Coin | The BitPay Blog https://t.

2018-10-16 09:51


Ôîòî:

BitPay-Pal? BitPay Introduces Settlement in USD-Pegged Stablecoins

BitPay, purportedly the largest blockchain payments provider, will allow merchants to accept settlements in USD-pegged stablecoins. Gemini Dollar and USD Coin Get the Green Light The leading blockchain payments provider BitPay announced that it will allow merchants to receive settlement in USD-backed stablecoins, namely the Gemini Dollar (GUSD) and Circle’s USD Coin (USDC).

2018-10-16 08:00


äàëüøå åùå 10 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Circle’s Stablecoin USDC Launches on Hedera Hashgraph’s Network

Fulfilling its promise to expand to more blockchain protocols in the coming months, USDT close rival USDC has recently launched on the Hedera network. The announcement by popular stablecoin issuer Circle on Monday, October 18, makes the asset the first stablecoin to launch on the network.

SEC Sends an “Investigative Subpoena” to USDC Issuer Circle

The US Securities and Exchange Commission (SEC) sent an “investigative subpoena” to the issuer of USDC stablecoin Circle in July of this year, according to a filing. Circle made this disclosure as part of a filing about its plans to go public through a merger with the special purpose acquisition company (SPAC), Concord Acquisition Corp.