Jeremy Allaire, CEO of USDC stablecoin co-issuer Circle, said that most Internet companies and brands will begin integrating Web3 into their services.
Data: X.
“Now we see that Web3 is poised to go mainstream. We are moving into broadband connectivity, with scalability, usability and security, things are getting significantly better,” he wrote.
Allair believes that the majority of fintech startups, payment companies, and financial institutions will use Web3 for tokenization, payments, and applications.
According to CEO Circle, stablecoins and cryptocurrency wallets are at an early stage. To develop these segments of the industry, you need to increase the number of Web3 applications and services, he added.
“For this, we need significantly more developers who can create Web3 applications. Today there are 100 million developers, of which only 500,000 active Web3 developers is 0.5%, ”said Allaire.
To do this, Circle launched a programmable wallet service to help Web 2.0 developers bring the Web3 wallet experience to their iOS and Android apps.
Earlier, Allair said that the US dollar’s status as the world’s reserve currency would be in jeopardy if Congress did not move forward with stablecoin legislation.
Recall that Circle is counting on a $1 billion airbag to compete in the stablecoin market.
Since the beginning of the year, the capitalization of USDC has fallen from $44.5 billion to $26.2 billion. The indicator of the main competitor, USDT from Tether, has grown to $83.4 billion.
Subscribe to ForkLog on social networks
Found a mistake in the text? Select it and press CTRL+ENTER
ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!
2023-08-12 11:18:42
#Circle #announced #readiness #Web3 #mainstream #ForkLog
