Circle CEO Jeremy Allaire Envisions Stablecoins as Bedrock of the New Internet Financial System
Jeremy Allaire, the CEO of Circle, a prominent stablecoin company, asserts that blockchain systems represent the new infrastructure layer of the internet, with stablecoins at their core, offering nearly instant, nearly free, and globally scalable value.
Allaire envisions stablecoins as the critical element for a burgeoning blockchain-based economic system. He notes the heightened interest in blockchain networks from major financial institutions like BlackRock, JPMorgan, Standard Chartered, HSBC, and Goldman Sachs, viewing it as a natural endorsement for technology poised to revolutionize the financial landscape.
According to Allaire, stablecoins play a central role in this transformation, serving diverse applications, from traditional commerce to facilitating value transfer for individuals without access to conventional banking, such as Ukrainian refugees or Venezuelan healthcare workers. Circle’s recent upgrade of its USDC stablecoin to version 2.2 aligns with their broader plans, including pursuing a public listing through an Initial Public Offering (IPO) pending approval from the U.S. Securities and Exchange Commission (SEC).
Clever Robot News Desk 18th January 2024
