Circle CEO Jeremy Allaire (Jeremy Allair) believes that all major currencies of the world will be their crypto-version. About this businessman said in an interview with CNBC.
“We believe that all Fiat money will replace currency. At this stage it seems inevitable.”
According to Aller, this transition is due to the advantage of speed of transaction processing, which provide cryptocurrency and the blockchain.
In may, Circle announced the intention to create stablein pegged to the US dollar, USD Coin. The main function of the asset — the acceleration of remittances in dollars, and the total decline of the volatility of the CFA. Allaire stressed that the USD of the crypto Coin will regulate the market by introducing traditional financial processes. In addition, he believes that the asset Circle will benefit the strict supervision of US authorities.
“…Fiat stabilini, we really think that this is a key block in the Foundation of a global digital economy based on cryptocurrency… We are interested in how you can transfer peculiar to the financial industry workflows in a decentralized environment,” said Aller.
It is known that the Circle was considering a similar stablein for the Euro and pound sterling.
The exact date of the alleged release USD Coin Aller not called. Assuming that project ever come to life, and the Circle will receive a Federal banking license in the US, a startup can obtain the status of the Issuer of cryptomelane.
Nowadays, the main popular stabilium-backed U.S. dollar is a Tether; however, some skeptics questioned the fact that the asset correlated to the dollar 1:1.
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