Two Tipperary natives called to address US House of Representatives
Patrick Collison and Caroline Butler testified before the House of Representatives
As St Patrick's Day approaches and dignitaries flock to Washington DC, two Tipperary natives were among them as they were called to testify before the US House of Representatives in Washington this week.
Patrick Collison, CEO and co-founder of payments company Stripe, and Caroline Butler, Global Head of Digital Assets, The Bank of New York Mellon Corporation testified before the House of Representatives in Washington as part of the House Financial Services Committee hearing on digital payments and the future of cryptocurrency.
Holycross native Caroline Butler attended Presentation Secondary School in Thurles, while Mr Collison grew up in Dromineer and attended Gaelscoil Aonach Urmhumhan, in Nenagh.
Speaking before the House of Representatives, Ms Butler said: "how money is managed and moved is transforming. Blockchain technology has the potential to serve as an additional payment rail, complementing the basket of existing payment options we offer our clients.
"This is because blockchain, specifically payment stablecoins, has the potential to unlock greater utility of assets, enhance resiliency, and drive operational efficiencies," she said.
Speaking before the House Financial Services Committee, Mr Collison said that Stripe's experience with traditional payment systems gives them unique insights into how new technologies can create meaningful improvements.
"Our interest in stablecoins is not about replacing existing payment infrastructure, but instead complementing it with innovations that solve real world problems American businesses face related to cost, speed, and accessibility of global payment," Mr Collison said.