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CEO Circle: Stablecoins Contribute to 10% of Global Finance in the Next 10 Years

Liputan6.com, Jakarta – Stablecoins are expected to account for 10% of the “global money economy” over the next 10 years or so.

The forecast was issued by the CEO of Stablecoin publisher Circle, Jeremy Allaire.

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Launch CointelegraphThursday (20/6/2024) Allaire explained several factors that could trigger an exponential expansion in stablecoin adoption over the next 10 years.

“Most of the world's largest payments companies are actively using this technology and exploring how to expand its use as the benefits of public chains and stablecoins become clear to everyone,” Allaire said in a post on the X platform on June 19, 2024.

He noted that stablecoins are becoming an increasingly accepted form of digital money, and that cryptocurrencies will occupy an increasingly large portion of the world's USD 100 trillion electronic money market by the end of 2025.

“(Imagine) what it would be like when 10% of the global economy's money is in the form of stablecoins and when credit intermediation moves from fractional reserve lending to onchain credit markets,” he said.

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“(This) can be achieved in the next 10+ years,” said Allaire.

The current USD 162 billion stablecoin market is 0.2% of the size of the USD 80 trillion money market, according to World Population Review data.

For Allaire's 10% prediction to come true by 2034, the stablecoin market would need to grow at at least a compound annual growth rate of 47.7%, although the forecast does not take into account growth of USD 80 trillion.

USD Coin or USDC, the United States dollar stablecoin issued by Allaire's Circle currently has a market capitalization of USD 32.8 billion, making it the second largest stablecoin behind Tether or USDT, according to CoinGecko data.

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CEO Circle: Stablecoins Contribute to 10% of Global Finance in the Next 10 Years

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