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Bankless

192 - Cryptodollars Are the New Eurodollars with Nic Carter

Oct 16, 2023
Nic Carter, a partner at Castle Island Ventures and co-founder of Coin Metrics, dives into the world of cryptodollars, likening them to eurodollars in their revolutionary potential. With over $10 trillion in cryptodollars today, he believes we’ve only scratched the surface. The conversation explores stablecoins' role in creating a unified global financial framework, their independence from traditional banking, and the opportunities and challenges they face as they become integral to the financial ecosystem.
01:26:58

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Stablecoins offer seamless cross-border transactions, transparency, and decentralization, making them a valuable tool in reshaping global financial networks.
  • Similar to Eurodollars, crypto dollars can transact globally and outside traditional systems, implying the possibility of future recognition and acceptance by governments.

Deep dives

Crypto dollars are gaining momentum

Crypto dollars, also known as stablecoins, are growing in popularity and utility. Despite a decrease in market cap, stablecoins are seeing increased usage, including transaction count, monthly actives, and dollar value transmitted on chain. Stablecoins offer the ability to settle transactions digitally and instantly across borders, while also being interoperable and transparent on public ledgers. The demand for stablecoins extends beyond the crypto market, with remitters, global payment systems, and mobile money apps embracing their utility. This growing adoption of stablecoins is significant, as it showcases the value of public blockchain-based transactions and their potential to reshape financial networks globally.

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