T. Rowe Price Portfolio Manager Highlights Stablecoins’ Significant Potential
A portfolio manager at T. Rowe Price highlights the growing importance of stablecoins in the crypto market. Key points include:
- Dominic Rizzo views stablecoins as the primary use case for crypto, noting their significant potential.
- Recent developments include World Liberty Financial's USD1 and Fidelity's exploration of launching a stablecoin.
- Intercontinental Exchange is considering using Circle's stablecoin USDC for new customer products.
- Rizzo emphasizes the need for careful consideration in choosing between DeFi and traditional finance (TradFi) applications.
- He suggests that stablecoins may be more beneficial in countries lacking foreign exchange liquidity.
- Rizzo describes bitcoin as a "productivity-enhancing technology" but acknowledges its volatility.
- Current crypto exposure in T. Rowe's tech ETF is limited to Coinbase and Robinhood.
- Circle is highlighted as a preferred choice for potential future investments related to stablecoins.