"The hottest technology in crypto right now are stablecoins, a type of cryptocurrency that is typically pegged to the U.S. dollar. While Tether and Circle's USDC are the clear leaders right now, it's very possible a yet-to-be-released stablecoin could emerge as the long-term winner. That's according to Austin Campbell, a professor and former executive at the stablecoin firm Paxos, who shared his thoughts on the latest edition of Fortune's Crypto Playbook (available on Spotify, Apple, and YouTube)."
"Stablecoins such as Circle's USDC and Tether have long been popular among crypto traders as a form of settlement, but a series of high-profile acquisitions and IPOs-as well as Congress passing comprehensive legislation this summer to regulate the technology-have catapulted them into the mainstream. Now, big tech firms and banks alike are exploring integration, while new challengers are entering the market every week."
"there is fierce competition between entrenched stablecoins like Tether and new entrants like Agora-whose appeal lies in the fact their value doesn't fluctuate like Bitcoin or Ethereum -but that doesn't mean a new contender can't take the throne. In the latest episode of Fortune 's Crypto Playbook podcast, Campbell compared the current moment in stablecoins to the 1990s for the internet, when services like AOL and Netscape were just getting started."
Stablecoins are a rapidly growing cryptocurrency category typically pegged to the U.S. dollar, with Tether and Circle's USDC currently leading market usage. Market momentum, high-profile acquisitions and IPOs, and recent congressional legislation in July have accelerated mainstream adoption. Big tech firms and banks are exploring integration while new challengers enter weekly, increasing competition. Stablecoins offer clear payment advantages over traditional rails through lower fees and faster transactions. The competitive landscape remains unsettled, and a future dominant stablecoin may not yet exist as incumbents and newcomers vie for long-term market leadership.
Read at Fortune Crypto
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