Editor's PiCK
"Over 50 Stablecoins to Launch This Year...Industry Competition Intensifies"
Summary
- Ran Goldi diagnosed that competition among issuers in the stablecoin market is intensifying.
- Banks and payment companies have shown increased interest in the stablecoin industry due to regulations such as MiCA.
- Approximately 50 new stablecoins are expected to be launched by the end of this year, which is likely to further intensify competition within the industry.
Ran Goldi, Vice President (VP) of Payments and Network at the virtual asset (cryptocurrency) custody company Fireblocks, diagnosed that "competition among issuers to dominate the stablecoin market is intensifying."
According to the virtual asset specialized media CoinDesk on the 15th (local time), Ran Goldi explained, "Interest in the stablecoin industry has increased among banks and payment companies following the establishment of MiCA, Europe's virtual asset regulatory law, and regulatory movements in the United States," adding, "Robinhood, Ripple (XRP), and Revolut have entered the stablecoin market, and about 50 new stablecoins are expected to be launched by the end of this year."
He further added, "Banks are also planning to establish related plans in the first half of this year and may fully enter the stablecoin market next year."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
