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Home » Circle CEO predicts that stablecoins will account for approximately 10 of the global currency supply in the next decade or so
Circle CEO predicts that stablecoins will account for approximately 10 of the global currency supply in the next decade or so
Circle CEO predicts that stablecoins will account for approximately 10 of the global currency supply in the next decade or so
Blockchain

Circle CEO predicts that stablecoins will account for approximately 10 of the global currency supply in the next decade or so

06/20/20242 Mins Read
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Stablecoin issuer Circle CEO Jeremy Allaire believes that stablecoins could make up 10% of the global economic money in the next decade or more. Allaire highlighted several factors that could lead to a significant increase in stablecoin adoption over the next 10+ years. He stated that major payment companies are actively using this technology and exploring its potential benefits. The addressable market for stablecoins is in the billions, and using digital dollars on blockchains can help bank the unbanked, reduce remittance costs, and facilitate cross-border commerce. Allaire predicts that stablecoins will comprise a larger portion of the $100 trillion market for electronic money by 2025. Currently, the stablecoin market is valued at $162 billion, which is only 0.2% of the $80 trillion money market. To achieve Allaire’s 10% prediction by 2034, the stablecoin market would need to grow at a compounded annual growth rate of 47.7%. USD Coin (USDC), issued by Circle, is currently the second-largest stablecoin with a market cap of $32.8 billion. Allaire is also optimistic about cryptocurrency adoption, envisioning billions of users across millions of applications in the next 10+ years. He even suggests that some onchain organizations could outperform multinational corporations in certain sectors, although he did not elaborate on how or where.

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