According to Circle CEO Jeremy Allaire, stablecoins could account for around 10% of the world's economic money in the next decade or more.
As more large payments companies begin to use public blockchains and realize the advantages of stablecoins, the market size for this technology is estimated to be in the billions.
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Allaire believes the implementation of digital dollars on blockchains has the potential to bank the unbanked, reduce remittance costs and facilitate seamless cross-border trade.
Stablecoins are gaining acceptance as a reliable form of digital money and, by 2025, could make up a significant portion of the $100 trillion global e-money market.