Published on mei 10, 2024, 12:59 am
Image source: Fox News
```json [ { "TLDR": "William Quigley suggests that tokenized fiat currencies like Tether could offer interest yields in the future, highlighting the potential for new financial mechanisms globally. He believes that the transition to tokenized money is imminent within the next decade and envisions significant innovations through tokenization technology." } ] ```
Stablecoins, such as Tether, currently do not provide interest yields. However, co-founder William Quigley suggests that with tokenized fiat currencies, this could become a viable option in the future.
William Quigley expressed at the FT Crypto and Digital Assets Summit his belief that the tokenization of fiat currencies, such as the U.S. dollar, represents a significant innovation akin to the creation of fiat currency itself. He envisions that this innovation will pave the way for new financial mechanisms globally over the next few years.
Quigley highlighted during a fireside chat that the transition to tokenized money is imminent within the next decade. He emphasized the benefits of tokenization technology, emphasizing its potential without drawbacks and suggesting that it could enhance traditional fiat systems significantly.
The co-founder also discussed how tokenized fiat or stablecoins like USDT might one day offer interest or yield on investments—a feature currently absent in most traditional banking accounts where substantial sums lay idle without earning any returns.
Quigley drew attention to the vast amounts held in U.S. bank accounts that yield no interest and explained that people often choose these accounts for their convenient banking services despite foregoing potential interest earnings due to established norms and preferences.
Moreover, he shared his journey into cryptocurrency and recounted founding Tether, which is renowned for being the largest stablecoin by market capitalization and among the most widely traded cryptocurrencies today. Quigley’s passion for gaming served as a catalyst for many innovative ideas within the crypto space since late 90s.
In conclusion, William Quigley’s insights shed light on the potential of tokenized fiat currencies like Tether and how they could transform financial landscapes by offering interest yields previously unavailable in traditional banking settings.
Original article posted by Fox News
