Part 8/10:
He further discusses the necessity of clear regulations governing stablecoins at a global level. Drawing from international examples, Allaire references frameworks being established in places like Europe and Japan, which permit stable coins as legal electronic money under defined conditions. An atmosphere where regulations are clear and supportive could be transformative, allowing startups to enter the market without prohibitive overheads.
The Competitive Landscape
While Allaire recognizes the competitive nature of the stablecoin market, he stresses the opportunity for growth for multiple players within the space. His partnership with Coinbase, which now acts as a distribution partner for USDC, exemplifies how collaboration can yield positive outcomes in an expanding market.