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The career as stablecoins begins when Wall Street enters the DeFi sector

May 24, 2020

The investor, pioneer in the introduction of cryptocurrencies and CEO of Gemini, Tyler Winklevoss predicted that competition between stall coins will really start as Wall Street moves towards decentralized fundingor DeFi during a recent interview with The Defiant’s Camila Russo.

Despite its optimistic outlook for DeFi Gemini co-founder claimed that the crypto industry does not currently offer a definitive app that drives adoption from outside the virtual currency community.

The competition between stable currencies has not even started

In an interview with The Defiant, Tyler Winklevoss predicted that the true stablecoin race will only take shape when Wall Street is interested in the DeFi space:

The career as stablecoins begins when Wall Street enters the DeFi sector
The career as stablecoins begins when Wall Street enters the DeFi sector

“If Wall Street wants to start investing in decentralized finance, they need a currency. If a decentralized real estate investment fund pays a dividend or a share, it pays investors in ether? Probably not for volatility, but in a stable coin.”

However, Tyler offered a damn review of many existing stablecoin projectsin the following words:

“Many of these stable coins only deposited their own cash deposits to increase the assets under management and to convey the perception that it is bigger than it is. I think it’s kind of crap. People see through.”

Generating profits is a basic promise of crypto value

Tyler Winklevoss He also highlighted the value proposition that crypto assets offer by offering interest income from equity or DeFi protocols in the face of deteriorating global economies.in the following words:

“Super important in this environment with zero interest rates, possibly negative interest rates, possibly hyperinflation, [es] the ability to make profits anywhere like 5%, 6%, whether it’s a DeFi money market or not, as you know, “he said.

Tyler revealed that Gemini plans to provide further support for crypto assets “to drive the DeFi revolution”and explains that the company will try to offer both trading and custody services.

Despite his enthusiasm for the future, Gemini’s CEO doesn’t believe that the crypto ecosystem will continue to produce a final application that can drive adoption. massive to a significant extent.