Circle: why stable in name only is not enough!
In this podcast, we talk to Dante Disparte, Chief Strategy Officer for Circle (USDC), who says he likes to conduct the Jeremy Maguire sniff test. If a digital instrument purporting to be a stablecoin can’t "show me the money", you’re subjecting yourself to something different. Read some highlights below.
Digital fiat must necessarily be blockchain-based
Before working at Circle, Dante was Executive Vice President, Policy and Social Impact at the Diem association, working on Facebook’s Libra digital currency project. It was then he noticed that blockchain technology had the potential to upgrade fiat to the digital sphere without losing trust and compliance of the underlying asset.
The attestation is here
Circle have recently provided a detailed reserve report, meeting what Dante Disparte passed the Jeremy Maguire “Show me the money test” with flying colours. The report shows only cash and short-term treasuries, with a total value of $55.7 billion, $200 million above circulating USDC.
Stablecoins ought not to reinvent the wheel
Disparte has reservations against the term “stablecoin”, which he seems at odds with its function – to represent a digital claim to the dollar. No frills or algorithms are required to do this, just trustworthy actors and good banking.
Why Choose Circle
Circle is transparent, regulated in the U.S. and partnered with giants such as MasterCard and Visa. Circle is interoperable, currently available on Algorand, Ethereum, Hedera, Solana, Steller, TRON and more. Circle also offers enterprise solutions for technology partners for circle’s powerful account and payment API infrastructure