Classic cryptocurrencies such as bitcoin (BTC) are known for their high volatility. To deal with this problem, the developers have implemented stablecoins. These are cryptocurrencies with the particularity of being backed by a more stable and stronger currency such as the dollar. A senior Fidelity Investments executive recently said that stablecoins could serve as a catalyst for bitcoin adoption.
Jurrien Timmer calls for regulation of stablecoins
Under tweet from Bitcoin Archive on August 16, the director of Global Macro said that “ the adoption of bitcoin could be accelerated by favorable regulation of stablecoins ». The top executive of Fidelity Investments made this statement during a recent interview on the Crypto Banter YouTube channel. Jurrien Timmer specifically stated that dollar-backed stablecoins can contribute to the increase in the adoption rate bitcoin. To do this, it would be necessary to carry out a regulation of these cryptocurrencies.
Timmer indicated that stablecoins should be considered safe. There should also be no more headlines about them and their space should be legitimized. All this will lead investors to trust the Bitcoin (BTC) network more, which will accelerate its adoption. The director of Global Macro said: “ As the space legitimizes itself and gains momentum, I think more and more investors might start to feel comfortable with the promise that this expanding adoption curve can actually come true. ».
According to Jurrien Timmer, Director of Global Macro at Fidelity Investments, the crypto winter has strongly affected the markets. Investors need to feel more secure before embarking on the crypto sector again. To this end, it is necessary to consider a regulation of stablecoins. This is how we can hope for a greater adoption of bitcoin (BTC).
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