Jeremy Allaire’s USDC Stablecoin Is Building a Real Use Case for Crypto

Stablecoins are arguably crypto’s most successful innovation, with millions of daily users around the world. Tether, which operates offshore, is still the undisputed king: its market cap ($89 billion according to CoinMarketCap) still dwarfs USDC’s ($25 billion), but USDC is making strides to close the gap. Allaire believes that Circle, which is based in the U.S., is well positioned for a time when stablecoins are regulated within new stablecoin legislation in the U.S, (which many observers think could be forthcoming in 2024, if any crypto legislation passes through Congress in an election year). Alliare believes USDC relative transparency, liquidity, and compliance will be advantageous as the market shifts, as expected, towards regulated stablecoins and mainstream adoption.