The head of Circle doubts that China was able to accept cryptocurrencies

The Circle organization, which is the issuer of USDC stable coins, is headed by Jeremy Allaire. He said that he has no illusions about the emergence of the cryptocurrency market in China. However, he has a positive mood regarding Hong Kong.

What else did the specialist say in an interview with SCMP

The expert noted that the reality now is that all other major financial markets in the world use cryptocurrencies. Large financial institutions do the same. The specialist believes that Hong Kong can remain relevant. However, to do this, he needs to use cryptocurrencies.

In addition, he believes that China supports Hong Kong Web 3.0 solutions. Allaair says that stablecoins, which are based on the yuan, could give the country significantly more advantages than the already created national digital currency.

The expert reports that perhaps the Chinese government wants the yuan to become freer in trade and commercial relations around the world. There is a possibility that stablecoins are a better option than the Chinese CBCD. As an example, he cites a stable coin that is tied to the offshore yuan.

The GRIN4 ecosystem

We have created a bot to make money on crypto exchanges. You set the settings, and he trades 24/7. Manage all assets from one service: with your own hands or with the help of algorithmic trading. Anonymously. Simply. Stress-free.