TechFlow news: On March 16, according to Bloomberg Originals’ “The David Rubenstein Show,” Circle CEO Jeremy Allaire stated that traditional bank cross-border remittances suffer from high fees, slow processing speeds, and numerous intermediaries—pain points that stablecoins can resolve by enabling instant, low-cost peer-to-peer transactions. Using Turkey as an example, he noted that local residents increasingly prefer holding digital U.S. dollars to hedge against their domestic currency’s depreciation risk. He believes software tools built on open internet infrastructure will likely compete with traditional banks in the future, though banks themselves may also transform by integrating blockchain technology.
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