TechFlow, on August 20, according to Investopedia, Goldman Sachs analysts Will Nance and James Yaro stated in a recent report that it remains to be seen whether fiat-pegged stablecoins will grow into trillions of dollars in scale and gradually erode the traditional financial services industry. Stablecoins pose "limited threat" to payment services, including the consumer credit card ecosystem. The sector's current underperformance has instead created a buying opportunity. Visa and Mastercard are not competitors; rather, they are "likely to play an important role in driving widespread consumer adoption of stablecoin payments." Therefore, although Circle's valuation surged following its high-profile IPO this year, Goldman Sachs views Robinhood as better positioned due to its ongoing innovation capabilities in the cryptocurrency space.
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