Stablecoins will represent 10% of money in the next decade: Circle CEO

Circle CEO Jeremy Allaire has revealed four of the biggest reasons he is “more bullish” on cryptocurrencies and stablecoins than ever before.

Stablecoins could represent 10% of “global economic money” over the next 10 years or more, according to Jeremy Allaire, CEO of stablecoin issuer Circle.

It's arguably a bold claim, but Allaire pointed to several factors that could lead to a massive 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 networks and stablecoins become clear to all,” Allaire explained in a June 19 post.

The addressable market size is in the "billions," Allaire said, and unleashing digital dollars on blockchain could fulfill the promise of banking to the unbanked, lowering remittance costs and allowing seamless cross-border trade.