Circle CEO Jeremy Allaire asserted that while stablecoins haven’t yet captured developers' enthusiasm like Apple’s iPhone, that pivotal shift may be approaching. In a social media post, Allaire emphasized that the technology could revolutionize digital transactions, stating, "We are not quite yet at the iPhone moment when developers everywhere realize the power and opportunity of programmable digital dollars on the internet... Soon." Retail companies are paying attention as stablecoins may facilitate new business models.
Allaire’s remarks coincide with insights from a16z Crypto partner Sam Broner, who highlighted that stablecoins promote competition, lowering costs for startups in the fintech space. Reports also indicate that giants Walmart and Amazon are exploring the launch of their own US dollar-backed stablecoins, while Shopify plans to incorporate Circle’s USDC stablecoin by the end of 2025.
Data scientist Daren Matsuoka from a16z Crypto noted that stablecoins could bring a billion users into cryptocurrency. With stablecoin transactions totaling an estimated $33 trillion in the last year, this figure dwarfs that of PayPal and approaches that of traditional banking systems.
Circle, recently listed on the New York Stock Exchange, has seen a substantial initial performance in the public market, indicating strong investor interest, unlike its competitor Tether, which has no plans for a public offering. Industry experts view this wave of adoption and potential partnerships as a promising road ahead for stablecoins and their role in broader cryptocurrency usage.
Allaire’s remarks coincide with insights from a16z Crypto partner Sam Broner, who highlighted that stablecoins promote competition, lowering costs for startups in the fintech space. Reports also indicate that giants Walmart and Amazon are exploring the launch of their own US dollar-backed stablecoins, while Shopify plans to incorporate Circle’s USDC stablecoin by the end of 2025.
Data scientist Daren Matsuoka from a16z Crypto noted that stablecoins could bring a billion users into cryptocurrency. With stablecoin transactions totaling an estimated $33 trillion in the last year, this figure dwarfs that of PayPal and approaches that of traditional banking systems.
Circle, recently listed on the New York Stock Exchange, has seen a substantial initial performance in the public market, indicating strong investor interest, unlike its competitor Tether, which has no plans for a public offering. Industry experts view this wave of adoption and potential partnerships as a promising road ahead for stablecoins and their role in broader cryptocurrency usage.
