Block CEO Jack Dorsey announces support for stablecoins to meet customer demand
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Block CEO Jack Dorsey stated that the company will support stablecoins due to customer demand, despite his previous advocacy for bitcoin as the sole internet monetary protocol. The popularity of stablecoins has driven this shift, while competitors such as Stripe and PayPal have also added stablecoin options, intensifying market pressure. Dorsey still maintains that bitcoin's decentralized model is the preferred open financial protocol.
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