While Stablecoins has not yet attracted the developers to the same scale as Apple’s iPhone, the Stablecoin Emier Circle CEO, Jeremy Allaire, suggests that the innovative moment is not far away.
“We are not yet at the time of the iPhone in which developers everywhere realize the power and opportunity of programmable digital dollars on the same way that they saw the unlocking of programmable mobile devices. Soon,” Allaire said in a publication on Saturday.
“The highest form of money ever created,” he added.
Retail giants are watching Stablecoins
Allaire’s comments were produced in response to A16z Crypto Sam Broner, who said in a publication the same day that “Stablecoins are better because they encourage competition.”
“Now anyone can program money: the fixed and marginal costs of building a Fintech are lower. More competition = better prices, better experiences, more access,” Broner added.
It occurs a day after reports arose that Walmart and Amazon retail giants are considering launching their own stable backed by the US dollar for customers.
Meanwhile, Global E-Commerce Giant Shopify recently confirmed plans to integrate the USDC (USDC) stablecoin of Circle for payments at the end of 2025.
The A16z crypto data scientist, Daren Matsuoka, predicts that Stablecoins can be the response to the great adoption in cryptography. “Stablecoins now present what I think is the first credible opportunity to incorporate one billion people in cryptography,” Matsuoka said in a June 6 x post.
Stablecoin transaction volume about 20 times the volume of PayPal
Matsuoka pointed out the transaction volume of $ 33 billion that Stablecoins has registered in the last 12 months.
“To put that in perspective, that is about 20 times the volume of PayPal, about 3 times the volume of visa and quickly approaches the volume of ACH,” he said.
Related: USDC Stablecoin is launched on XRP Ledger
It comes after the recent Circle debut in the New York Stock Exchange (NYSE). On June 5, the Stablecoin issuer made a strong entry into the public market, with its actions rising 167% in its first negotiation session.
However, the largest rival of Circle, Tether, the company behind USDT (USDT), did not express any interest in following the same path. A few days after the Circle list, on June 8, the CEO of Tether, Paolo Ardoino, said that the stablecoin issuer has no intention of going over.
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