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How stablecoins could further cryptocurrencies mainstream adoption

How stablecoins could further cryptocurrencies mainstream adoption
  • Changpeng Zhao has recently spoken at the virtual blockchain week where he argued stablecoins are able to drive adoption to crypto.
  • CZ also talked about the company's academies work with the Chinese government and its institutions on numerous projects involving blockchain. 

The founder and chief executive officer of Binance, Changpeng Zhao (CZ) has recently spoken at the virtual blockchain week where he argued that stablecoins and charity initiatives are able to drive meaningful adoption to the cryptocurrency space.

On top of this, CZ also talked about the company's academies work with the Chinese government and its institutions on numerous projects involving blockchain technology. He further revealed that he hopes the platform can have an impact on the future of the country's regulation strategy for emerging technologies such as crypto and blockchain.

Whilst talking with the hosts of the event, CZ made it clear that charity programs based on blockchain are able to encourage further adoption of the crypto space. 

He further stated:

“If I'm going to give you some donation in crypto, you are more likely to go and get a wallet or register an account on an exchange to accept it. That type of adoption is a positive first-contact for a lot of people. So it does increase adoption. We also see that it also helps the Binance reputation. We have been much better received in a lot of countries due to the charity initiative.” 

He further said, ”so there [is] some selfishness to it.”

When it came to the topic of stablecoins, the CEO said that he believes that this asset class could help the adoption as well for merchants and retailers. He went on to say:

“Before, it was like two extremes — you either stay in USD or Fiat, [or] you’re either BTC or Ethereum or BMB, and the price fluctuates against fiat.”

For more news on this and other crypto updates, keep it with CryptoDaily!

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