Stablecoins are arguably crypto’s most profitable innovation, with hundreds of thousands of every day customers all over the world. Tether, which operates offshore, continues to be the undisputed king: its market cap ($89 billion based on CoinMarketCap) nonetheless dwarfs USDC’s ($25 billion), however USDC is making strides to shut the hole. Allaire believes that Circle, which is predicated within the U.S., is properly positioned for a time when stablecoins are regulated inside new stablecoin laws within the U.S, (which many observers suppose could possibly be forthcoming in 2024, if any crypto laws passes by Congress in an election 12 months). Alliare believes USDC relative transparency, liquidity, and compliance will probably be advantageous because the market shifts, as anticipated, in direction of regulated stablecoins and mainstream adoption.
