{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"Circle CEO Jeremy Allaire breaks down mystery of stablecoin yield","html":"","width":"100%","height":180,"duration":1026,"description":"This special bonus episode of The Scoop was recorded live at the Crypto Bahamas conference with Jeremy Allaire, CEO of Circle, the digital payments and infrastructure company behind the popular stablecoin USDC.\nAs data from The Block shows, USDC is the second-largest stablecoin by market capitalization, and its share of the total stablecoin supply has been steadily on the rise.\nAccording to Allaire, a primary driver of demand for stablecoins comes from crypto native businesses:\n“Basically any business that operates in the crypto economy wants to use stablecoins as working capital. Well, these are businesses that also have borrowing needs, these are businesses that want to borrow, and so you want to borrow stablecoins — so there's inherent demand to borrow in that medium of exchange.”\nIt is this demand for stablecoins that creates lucrative yield opportunities for stablecoin lenders in crypto, in the same way that lenders in the world of traditional finance profit from the interest on the money they lend.\nAs Allaire explains, stablecoin borrowers are willing to pay to borrow capital:\n“Banks get 17 or 20% from consumers for lending the money for credit cards, right? So people pay an interest rate to borrow. Working capital of crypto is stablecoins, there's businesses that want to borrow it, and there you go.”\n\nEpisode 40 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Jeremy Allaire, Co-Founder & CEO of Circle.\nListen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.\nThis episode is brought to you by our sponsors Fireblocks, Coinbase Prime & Cross River\nFireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}