The Winklevoss Twins believe that stablecoins and tokenized securities are the future for crypto according to a recent interview.
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Cameron and Tyler Winklevoss, the Bitcoin billionaires and founders of Gemini, believe that stablecoins and tokenized securities are the way forward for the overall success of the digital currency world. In a recent interview with The Ledger, a crypto news segment at Fortune, the twins spoke openly about how they believe stablecoins and tokenized securities will be the catalyst for change.
The Twins were invited onto The Ledger in order to discuss a recent campaign which had sparked much debate amongst the crypto community, with the advert stating that Gemini was trying to reshape the crypto market with regulation. Adverts around New York City had slogans such as “the revolution needs rules”, “money has a future”, “crypto without chaos” and “crypto needs rules” all of which raised questions within the community.
Cameron Winklevoss, however, turned the conversation away from regulatory matters and emphasized how Gemini was looking to further develop two areas that are important for the success of digital assets. Stablecoins and tokenized securities were the technologies that the Gemini founders were hopeful of succeeding in order to make crypto a success.
Cameron explained that most of the brothers work up until now had been focussed on digital assets like Bitcoin, going on to detail how a new use for virtual security tokens back by real assets could work. On the subject of security tokens Cameron said:
“The ICO mania of 2017 — we view that as the Pets.com of the securities token world. They were unregistered and it was crazy town for about six months there. I think the next wave will see the real innovation, and the really interesting assets that become tokenized — like real estate, like buildings that are currently not traded in a really liquid fashion. So that’s exciting.”
Tyler went on to explain that stablecoins which are pegged to the U.S Dollar are open to less price volatility when compared to non-fiat crypto assets. Tyler went on to explain that these collateralized crypto assets could be utilised to issue dividends in the forthcoming world of tokenized securities. Cameron went on to add the interesting statistic that around 60% of all $100 bills are currently held abroad; explaining how the Gemini infrastructure was ready to place dollars on the blockchain in order to reshape the currency market worldwide.