Circle executive says stablecoin restrictions could cost the US $1 trillion
- —Chandhok put potential overseas demand for dollar stablecoins at $1 trillion
- —He estimated about $3 trillion is constantly in transit through international bank transfers
- —Stablecoins offer dollar access without multi-day correspondent banking settlement
- —In July, Circle and Fireblocks connected USDC settlement tools for institutions in over 50 countries
Why it matters: The argument adds to US stablecoin lobbying as the GENIUS Act rules and Fed reserve proposals take shape.
Source: crypto.news