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:
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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