Circle CEO Jeremy Allaire discusses future strategic goals! Will launch a smart contract development platform in the fall.

Last month, stablecoin issuer Circle launched a wallet service to showcase their ambition of reducing barriers to entry for Web 3. Recently, their CEO Jeremy Allaire announced the upcoming launch of a smart contract development platform in the fall of this year, aiming to enable more Web 2 developers to easily develop and integrate products in the Web 3 world.

Circle's Future Strategic Goals

Circle CEO Jeremy Allaire shared Circle's future strategic goals on Twitter - Web3 services. He mentioned that as Web3 becomes mainstream, the scalability, usability, and security improvements will lead consumer internet companies, brands, and enterprises to start integrating Web3 into their services. Fintech and payment companies will also use Web3 for tokenization, payments, and financial apps.

However, Jeremy noted that we are still in the very early stages of wallets and stablecoins, with significant room for improvement in both the adoption of Web3 wallets and the total supply of stablecoins.

Compared to the $25 trillion market value of electronic dollars, the $120 billion supply of stablecoins seems insignificant. However, Jeremy also mentioned that analyses indicate the market value of stablecoins will reach $3 trillion in five years, showing significant growth.

To increase the usage of stablecoins and wallets, Jeremy believes it is essential to first increase the number of Web3 apps and services. This is why Circle launched the Web3 wallet in July this year.

According to previous reports, leveraging Circle's programmable wallet can help developers familiar with Web2 quickly and easily integrate the multi-chain Web3 wallet experience into their apps. Users can onboard without needing to remember complex seed phrases and without holding Gas tokens or knowing which blockchain they are using.

Furthermore, regarding Circle's development plans for this fall, Jeremy mentioned the goal is to enable seamless and cross-chain stablecoin payments, along with the upcoming launch of a smart contract development platform to allow Web2 developers to easily participate and increase the number of Web3 developers.