- Bob Diamond believes that digital currencies will thrive in the future.
- Diamond predicts that last year’s crypto crash will lead to better future development.
- Concord Acquisition fails a deal with Circle to go public in the stock market.
Former Barclays (LON:BARC) CEO Bob Diamond believes that digital currencies will play a major role in the financial sector, despite adverse market conditions.
According to Financial Times, Diamond commented:
I can’t think of anyone who doesn’t believe that in the future, a digital version of the dollar for institutional and corporate use isn’t going to happen and be far more efficient.
Additionally, Diamond suggests that digital currencies, especially stablecoins, will become a widespread and efficient way for institutions and corporations to conduct transactions in the future — adding more power to stablecoins.
Diamond’s comments about stablecoin’s future were made shortly after his capital market company, Concord Acquisition, failed to seal a $9B deal to make Circle, the USDC issuer, list public in the stock market. As noted in a press release by Circle, Circle and Concord Acquisition mutually agreed to terminate the proposed business combination, citing the adverse crypto market c ...
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