Centre creates new team to work on global network of stablecoins

The Centre Group, founded by Circle and Coinbase, which is behind the stablecoin USDC, has formed a new team to drive the company’s global expansion. This was announced in a press release today. The release notes that this team will consist of six people. According to reports, the main task of the team will be to establish a global network of stablecoins.

According to the press release, three team members are C-suite executives. They are John Shipman as the team’s commercial leader, Mark duBose as risk and compliance leader, and Beth Zolkind as chief financial officer. Chad Richman is general counsel, and Jessica Gardner is director of business operations. Last but not least, Kevin Mills is the graduate project manager.

As further revealed by the release, the team members have previously worked at leading organizations such as PwC Australia, Circle, Robin Hood Foundation, Fenwick & West and Clearfield Capital.

Commenting on these appointments CEO of Centre David Puth said:

We have assembled this team to have the right balance of talent. This will allow us to drive significant growth while maintaining the highest standards of integrity, compliance and trust.

He further noted that this team will help the company execute its plans to develop a global network of stablecoins. According to David Puth, Centre has been working to forge strategic partnerships overseas. Puth believes that through these partners, the company is well positioned to broker interoperable stablecoins similar to USDC in other countries.

Plans for Europe, Asia and Africa

According to David Puth, Centre plans to bring stablecoins pegged to various fiat currencies to the market. To achieve this goal, the company plans to partner with financial services and payment processors. Puth further shared that Centre will focus on African and Asian markets that can use Stablecoins as a means of payment without much difficulty and at a low cost. While he didn’t give any details, he did say that the company plans to add new members later this year.

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As for the company’s operations in Europe, Centre plans to work with several partners here as well. The Centre SEO added that the.se efforts will potentially facilitate the launch of two stablecoins in the region. As a result, the company plans to add seven new employees to its European team in the coming months.

Centre’s expansion plans also include launching USDC on additional blockchains, including Layer 1 and Layer 2 networks. In addition, the company plans to introduce USDC into the non-fungible token (NFT) space. According to Shipman, the company is looking into creating the underlying infrastructure that would enable seamless trading of NFTs on marketplaces.

This news comes at a time when USDC continues to perform well. Since December last year, the supply of the coin currency has increased almost tenfold. With a market cap of $27,241,221,913, USDC is now the second largest stablecoin and the ninth largest cryptocurrency.