Circle CEO Claims All Currencies Will Become Cryptocurrencies

Jeremy Allaire, the current CEO of Circle, a known exchange and cryptocurrency investment company, has talked about how he thinks that in the future, all fiduciary coins will go digital and turn into cryptocurrencies; from the American dollar to the English pound. He talked about this in an interview yesterday, according to an article published by CNBC.
Circle is a popular payment and cryptocurrency company whose platform permits sending money and cryptocurrencies between users free of fees. Backed by Goldman-Sachs, recently it has also released an app called Invest, that is directed to new users that have not traded cryptocurrencies yet; so it is clear that they are pointing to massify the use of cryptocurrencies, and add these new adopters to their user base.
To Allaire, it seems inevitable that society will move to a cashless future; and this cashless future implies every coin out there to be digitalized into a blockchain. That is why Circle is creating a new cryptocurrency under their platform, that will allow new users to trade it and hod it without worrying about one of the most common problems of cryptocurrencies, its volatility. It will be called the Circle USD Coin, and it will be what crypto savvy people know as a stablecoin, a cryptocurrency whose value is pegged to another indicator, in this case, the American dollar.
For this, Circle has reportedly collected more than 110 million dollars in their latest investment round, being funded even by cryptocurrency mining well-established companies like Bitmain, the China-based mining hardware manufacturer.
Of course, this won’t be the first coin of this kind that is issued; there is a prominent one called Tether; but it has faced credibility problems due to lack of transparency of its issuing company, not having a serious audit since last year’s December. Circle aims to be the first transparent company to issue a real digital dollar, that will be available next summer.

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