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Circle could be more than a stablecoin issuer, Bitwise says

Bitwise’s Ryan Rasmussen argues Circle’s Arc blockchain may help it expand into payments infrastructure as stablecoins approach a multi-trillion-dollar market.

Reported · Written up by our desk · Market Structure

Bitwise Head of Research Ryan Rasmussen said investors are underestimating Circle’s opportunity as stablecoins move toward a multi-trillion-dollar market, according to an interview featured by CoinDesk.

Rasmussen’s view is that stablecoin growth would not only translate into more reserve-related revenue for Circle, but also create a second growth line in payments infrastructure.

He said competition from banks, consumer companies, and other incumbents preparing their own stablecoins is not, in his view, a major threat to Circle’s positioning.

Looking ahead, Rasmussen pointed to Circle’s Arc blockchain as a potential test of whether the company can extend beyond issuing stablecoins into the infrastructure that moves them.

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