Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’
Circle CEO Jeremy Allaire says he has his eye on a crypto use case that could be the tech that sparks mass adoption of blockchain and digital assets.
In a new interview on Bankless, Allaire says that the “general payment utility” that stablecoins allow for is likely the most important use case for bringing the masses on-chain.
“I think general payment utility is definitely the killer app that we’ll see, and I don’t just view it as like ‘this is just about the Venmo, the person-to-person type component.’
The beauty of this is this infrastructure works for every dimension of the market. There are USDC users that are paying $0.25 for a digital object in a Web3 game and they can do it because it actually works, and that exact same technology on that exact same blockchain is being used to settle a $200 million trade bilaterally peer-to-peer between two large trading counterparties.
You’re not doing a $100 million transaction with Venmo. You’re also not really doing a $0.25 transaction. So you have this super scalable model…
The interoperable global direct value exchange is definitely the killer app.”
Allaire predicts that by the year 2030, just the stablecoin sector alone will be worth over $3 trillion – which is almost twice what the total crypto market is worth today.
“I feel comfortable saying $3 trillion… I think there’s just hyper-high utility and we’re at the front edge of a really powerful growth phase over the next five years.”
At time of writing, USDC, Circle’s flagship product, is valued at $33.5 billion.
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Author: Alex Richardson
