Peter Smith, CEO of Blockchain.com, recently he was the subject of an interview with The Block on January 21stst.
During the conversation several topics of interest arose, but one particular point that attracted attention was the desire to form a new partnership soon. Specifically, the CEO revealed that he wanted to collaborate with a stablecoin project by the end of the year, even if the specific project remained nameless.
Based on this information, it seems that Blockchain.com wants to list a stablecoin on the platform. This would be a big advantage for their 32 million portfolios, considering that most of them are currently active. Smith introduced the topic, saying:
"There is a big race between stablecoin right now … Everyone is competing very hard to get their stablecoin out there and to get distribution.I think the market will be really interesting.We will soon make a move in there. "
Smith has a lot of faith in the desire for his platform to be used by other stablecoin projects, saying that they "need us". However, assuming the dominant role, Smith added: "The question is, which one do we need?"
Blockchain.com has been around since 2011 and has hosted 100 million transactions. When they launched for the first time, they raised $ 70 million in funding from the Digital Currency Group and Google Ventures, most recently launching an OTC trading desk recently. However, some information shows that the best option could be Paxos. Speaking of Paxos, Smith said:
"Currently the stablecoin is used more, outside of Tether, which everyone forgets, it is Paxos. Paxos has the largest volume of trade and the most liquidity and the largest number pending …[But] they do not have a great retail partner to bring their brand right now. "
With the recent report on Blockchain's stablecoin, they also seem to see the best opportunity with Paxos.
Currently, PAX can be found on 20 different exchanges. Furthermore, the reason why Smith was more committed to stablecoins is due to the transition that Bitcoin recently had from investment to a practical transaction tool. Smith elaborated, saying,
"We used stablecoins as almost the oil or gas that makes the whole engine of a new consumer finance ecosystem possible." We are not here to make bitcoin investment easy, we are here to build a better way. to give people financial services … We have deepened the stablecoins, we are all on the stablecoin. "
Stable goods for the real world are absolutely necessary to change the world of finance. Smith hopes to make it possible for its customers to remain independent of banks, eliminating the need to rely on their accounts to conserve assets.
This change would also help Blockchain, considering that the use of the platform would increase considerably. Explaining, Smith noted,
"For us, the stablecoin give us the power to give everyone a current account in US dollars.If you think about it, it's a little crazy.There is no bank challenging with 30 million bank accounts. At the same time that we do it, we will do it in a way that allows them to still control their funds, to still be financial sovereign individuals. "Regardless of what the details are, Smith believes he will" probably move the market. "