Bitcoin Dethroned? Circle CEO Says Stablecoins Will Fast-Track Yuan Globalization Efforts
Portfolio Pulse from Murtuza Merchant
Circle CEO Jeremy Allaire has expressed optimism about the growth of Web3 in Hong Kong and the city's efforts to regulate stablecoins. He believes that stablecoins could be a potential instrument for China to internationalize the yuan. However, he clarified that this does not imply an imminent acceptance of crypto trading in mainland China.
July 11, 2023 | 3:12 pm
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Circle's CEO's positive outlook on stablecoins could potentially increase the relevance and usage of USDC, a stablecoin managed by Circle.
Jeremy Allaire, CEO of Circle, has expressed a positive outlook on the role of stablecoins in the global financial market. Given that Circle manages USDC, one of the most widely used stablecoins, this could potentially increase its relevance and usage.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80