Circle Internet, (CRCL) examines the means to reverse transactions involving its stablecoin, USDC, Financial Times (FT) reported Thursday.
The transmitter of the second largest stablecoin “reflects … whether or not there is the possibility of transactions reversibility,” said the president of the company, Heath Tarbert, in an interview with the newspaper.
Stablecoins, tokens fixed at the value of a traditional financial asset (tradfi) such as a fiduciary currency, are an important cog in the cryptocurrency machine, offering users a blanket against volatility that what can strike tokens like tokens like like And . They also find popularity as a method for international payments. The sector has a market capitalization of around $ 300 billion, according to data followed by Coingecko. USDC alone has a market capitalization of $ 74 billion; The USDT of the market leader Tether at 173 billion dollars.
Tarbert declared that the reimbursement of transactions in the event of fraud or dispute, similar to what is possible in Tradfi, would help to push the stablecoins in the dominant current.
Such a development can rub certain cryptographic purists in the wrong direction, because they consider that the purpose of the stands is not negotiable. The introduction of the possibility of reverse transactions could rely on the arbitration of a central authority, which, according to many, is the antithesis of decentralization which is at the heart of cryptocurrency.
“At the same time, we want the purpose of the regulations,” said Tarbert. “There is therefore an inherent tension between being able to transfer something immediately, but having it irrevocable.”
Circle was at the forefront of the growing adoption of stablecoins in the United States this year after its first public public call (IPO) succeeded in June.
The company did not immediately respond to the request for comments from Coindesk.
