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Circle CEO Announces High Demand for Stablecoins

17 April 2020 14:09, UTC
Anna Martynova

Jeremy ALLAIRE, CEO and founder of Circle's digital currency, said that four months after Circle began to use stablecoins, the new business model of the startup received an unexpected boost. The popularity of dollar-backed blockchain tokens is growing all over the world, and this time most of the demand comes from ordinary business transactions, and not just to move money between crypto exchanges rapidly.

Allaire also noted that new signups came from e-commerce marketplaces, advertising networks, luxury goods producers, recruiting platforms, digital content markets, p2p-lending platforms, payment companies, software firms, professional services firms, rewards businesses, mobile banking providers. Circle CEO added:

«We are getting feedback from Asian market participants that there is more and more demand for USDC from SMEs seeking both the safety and utility of digital dollars».

The company emphasized that the number of Circle Business Accounts for corporate clients who use USDC to conduct business has grown by 700 percent over the past few weeks. More than two-thirds of these companies are not participants in the crypto space.

Image courtesy of Bitcoin Exchange Guide