There is currently high demand worldwide for stable dollar-based currencies, while the crisis could be a turning point for their introduction, says Circle CEO – Crypto Trends

As the world continues to collapse and on the defensive against the new Covid-19 corona virus, the current crisis has generated demand scenarios for stable currencies around the world, supported by the US dollar. This situation could reinforce his assumption in the current context, explains Circle co-founder and CEO Jeremy Allaire

In a recent report by CoinDeskthe Co-founder and CEO of Circle company Jeremy Allaireexplained that in the world In the past few weeks, the demand for stable coins or stable currencies has increased significantlyanchored digital currencies and supported by fiat currencies like the dollar American.

To Allairethat have digital currencies anchored to the dollar, such as USD coin (USDC), a joint initiative of Circle and coinbase, is very popular worldwide, especially for normal companies, and is not necessarily connected to the crypto world like exchange. The CEO insured:

In the past few weeks we have seen explosive interest and growth in the USDC (…). There is clearly a very significant global demand for digital dollars and the use of digital dollars as a new form of payment.

To AllaireOne of the most important points is that the demand comes from “Everyday business”for normal payments. For example, it shows Allaireon the Asian market “Small and medium-sized enterprises (SMEs) who are looking for both the security and the benefits of digital dollars are increasingly demanding USDC.”.

It also explains that participating companies in general who join e-commerce generally have areas such as: Ad networks, recruitment platforms, digital content markets, peer-to-peer credit platforms, payment companies, software companies, professional services companies, reward companies, mobile banking providers and other internet companies as described in the report.

A. 700% growth for Circle Business Accounts, mechanism for traders to trade USDChas been another indicator in the past few weeks that is referred to in this sense circlewhile two thirds of these merchants not related to the crypto industryfrom other sectors.

The need for alternatives to the current crisis is loud Allairecauses an increase in Introduction of stable currencies supported by dollars, a situation that turns out to be Turning point for this.

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