Circle CEO Discusses Dominance Of Dollar-Pegged Stablecoins In Global Market

According to Odaily, Circle CEO Jeremy Allaire recently participated in a 40-minute interview where he discussed the dominance of dollar-pegged stablecoins in the global financial market. Allaire emphasized that the prevalence of the US dollar in international trade, transactions, and financial products naturally leads to a higher demand for dollar-denominated stablecoins. He noted that while the demand for stablecoins is primarily focused on the US dollar, regional stablecoins like those pegged to the euro and yen are gradually gaining traction in their respective local markets. Among these, the Euro Coin has emerged as the largest euro-pegged stablecoin in the market. Allaire also highlighted Hong Kong's strategic importance to Circle's business expansion. As a pivotal hub for global trade and capital flow, Hong Kong is positioned to significantly aid Circle's growth in the Asian market. Circle is currently establishing currency exchange services in Hong Kong, enabling local users to create and redeem USDC conveniently. This development underscores Circle's commitment to enhancing its presence and operational capabilities in Asia, leveraging Hong Kong's status as a key financial center.