Recent comments from Galaxy Digital CEO Michael Novogratz offer insight into the future of stablecoins and their interplay with artificial intelligence.
Trends in the Stablecoin Market
Michael Novogratz stated that the stablecoin market is just beginning to develop. At the Goldman Sachs conference in Hong Kong, he predicted that transaction volumes with stablecoins will increase significantly, potentially reaching trillions of dollars. Currently, the stablecoin market capitalization is around $280 billion.
The Impact of AI on Stablecoins
According to Novogratz, artificial agents will become the primary users of stablecoins in the future. He described a scenario where users can simply speak to their device to buy groceries, and AI agents will perform the purchases using stablecoins, avoiding traditional payment methods.
Rivalry Between China and the US
Michael Novogratz noted that the US is currently the leader in the stablecoin market, but China is eager to develop its own stablecoin pegged to the yuan to compete with the dollar. He believes it is a matter of time before China can create its own stablecoin.
Thus, Michael Novogratz's insights highlight important trends in the stablecoin sector, the potential impact of artificial intelligence, and serious rivalry on the international stage.
