Circle CEO Jeremy Allaire has big plans for his company and for USDC, the stablecoin it operates. In a blog post this week, Allaire wrote that Circle intends to become a federal bank and that he expects USDC to „grow into hundreds of billions of dollars in circulation.”
Allaire’s comments come at a time when stablecoins—digital tokens pegged to a national currency—are having a moment. Long popular among crypto traders as a way to get in and out of volatile positions, the traditional financial system has also begun to embrace stablecoins as a more efficient means of moving money around.
Right now, the market is still dominated by a stablecoin called Tether. But there are numerous competitors and Allaire sees an opportunity for USDC, currently number two by market cap, to take the lead at a time when U.S. regulators are scrutinizing Tether’s unusual accounting practices. Circle, however, has regulatory and business worries of its own—a situation that makes Allaire’s plans to make U
Źródło: https://decrypt.co/78407/can-circle-win-stablecoin-wars
