William Quigley

So those will be much smaller in absolute supply, but they're useful in certain cases.

And it's kind of nice to have an on-chain mechanism.

I think a lot of people appreciate that.

So those are the three types.

All of them will exist.

And the non-sovereign issued stable coins, at least for now, look like they have a pretty promising future.

Yeah, you can't go much above 98.

So more than likely... Or 90%.

Yeah, since you can't go much higher than it is, the only logical prediction would be it will get diluted over time a bit.

What really will matter is when, let's say in the EU,

Yes.

Euro-based stablecoins are issued, created and issued by banks, regulated banks in the EU, for the purposes of settling transactions in euros in Europe.

So there should be a bias towards stablecoins that are collateralized by euros.

in the EU because that's the base currency that people are using there.

When it comes to cross-border payments, the US dollar tends to dominate.

So I would expect that that part of the global transactions to remain heavily biased towards towards dollars.

and dollar based stablecoins.

But within, let's say, China, of course, they will all be RMB based stablecoins because that's how people settle transactions.

I think in general.

Most consumers globally would like to have some amount of stablecoin in their native currency, but also some US dollar based stablecoins.