According to Mars Finance, Dante Disparte, chief strategy officer and global policy director of stablecoin issuer Circle, said in an interview: "Circle believes that stablecoins will become the mainstream currency in the Internet era. We expect that Internet payment companies and other financial services companies will try to enter or expand this field. This is a strong signal that stablecoins will continue to exist. At the same time, global supervision should be coordinated to ensure that all payment stablecoin issuers are in compliance. I feel "confident" that stablecoins will become mainstream currencies."
Competition in the stablecoin market is intensifying with the emergence of new entrants such as PayPal's dollar-pegged stablecoin PayPal USD. Ripple Labs has begun testing its dollar-pegged stablecoin Ripple USD (RLUSD) on the XRP Ledger and Ethereum, with plans to expand to more blockchains. Tether's USDT remains the largest stablecoin with a market capitalization of more than $118 billion, while Tether has also announced plans for a new stablecoin pegged to the UAE dirham (AED).
