Circle CEO: Stablecoins could reach $3.7 trillion, boost US dollar

A revolution in the crystallized currency world may proceed soon, as legislators are officially moved to Stablecoins, a digital currency designed to maintain a fixed value.

“The Internet is now clashing with the financial industry and the financial system.”. “There is an opportunity to build very large platforms and facilities in the same way that we have seen that built in other industries on the Internet.“

Circle is a New York -based company specializing in Stablecoins. After it happened in early June, Circle’s shares prices witnessed an increase on the opening day, indicating a strong appetite for the digital -backed digital currency.

Stablecoin values ​​are linked to currencies like the US dollar, unlike Bitcoin, its matching competitor. This makes them more predictable to daily use, and more attractive to many consumers and legislators. In Allaire Conditions, Stablecoin is “too much internet money”.

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Earlier this week, the Senate passed the Genius Act, the first federal legislation to focus on the organization of Stablecoin. He received support and support from President Donald Trump, who embraced encrypted currencies during his second term. The legislation can lay the basis for the integration of stablecoins into the wider financial system.

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“It is an excellent legislation,” Allaire of the draft law said. “It is great to see our political leaders, and our economic leaders somewhat embrace this and work towards it. I think [the] I think ACT Genius will be captured and brought to the president’s office in the near future. “

Supporters say Stablecoins can help enhance the dominance of the US dollar on the global stage by converting it into an export digital currency.

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“This is great for the dollar,” said Alere. “It turns digital dollars into an export product for the United States, and it multiplies with digital dollar online. Thus, if we are in the digital space race with China, or with other countries, BRICS, or what you have, this is a great way to win.”

Treasury Secretary Scott Payette chanted this optimism in a post on X, and he partially writes: “The recent reports projects that can grow Stablecoins to become a 3.7 trillion dollar market by the end of the contract.”

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In essence, Allaire argues that Stablecoins offers a safer and more intelligent approach to digital financing.

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“It is a very strong power,” he said. “You do not carry the bank’s credit risks. You keep the short -term US government cabinet. It is a strong model that I think is intuitively understood by people. It is a safer and higher form of money.”