After making the headlines last week with their flamboyant promotion of their cryptocurrency exchange dubbed Gemini, the Winklevoss twins are in it again. This time around, the duo said that stablecoins and tokenised securities will bring bright future for the cryptocurrency industry.
In their recent interview with Fortune’s news segment, the twins said that crypto companies should have thoughtful banking regulation that doesn’t stifle.
“People believe in the dream of crypto, they just don’t know how to engage in it without getting burned. We’re here to say Gemini’s a place you can do that,” said Tyler Winklevoss.
His brother Cameroon added that the growth of cryptos has been affected by the bad publicity that the industry has been getting due to the proliferation of criminals associated with it. Plus, there’s also the common perception about the anonymity of Bitcoin.
And what’s their solution to all this? Well, none other than their very own Gemini which according to them will provide the same safeguards and consumer protections other financial institutions. This will be complimented by the Virtual Community Association, a self-regulated body that they themselves has created and launched recently.
The Fortune also asked the twins for their take on the claim that regulators can hurt the growth of cryptos due to licensing matters. And the twins responded by praising regulators such as the SEC despite the fact the the commission has recently decline their request to offer Bitcoin ETF.
The Winklevoss twins also agreed that stablecoins are in for a bright future. Cameron said that instead of holding 60% of U.S. $100 bills overseas, why can it be simplified by using stablecoins? Stablecoins can be used as payment for crypto services since it translate to real dollars in the blockchain market.
Whether these recent claims of the Winklevoss twins will hold true emains to be seen. For now, it’s enough that we all know that these statements came from people with their own personal agenda.