Jeremy Allaire on long-term moat
From CRCL live AMA with CEO Jeremy Allaire · · Circle
“Circle is building and has built a broad-based internet platform business. We are building at the operating system level, at the fundamental infrastructure level. We are building at the protocol level with stablecoin protocols, interoperability protocols. We are building a diverse digital assets business. USDC is the largest regulated digital dollar. We operate the largest regulated digital euro. We operate the largest regulated tokenized money market fund. We're just launching SRB BTC, a onchain version of Bitcoin. We will look at additional digital assets that we can launch. We have a stablecoin network. This is not just a stable coin. We have a stablecoin network with tremendous moes liquidity distribution and network effects.”
On , Jeremy Allaire, CEO & Co-Founder at Circle, spoke about long-term moat during CRCL live AMA with CEO Jeremy Allaire on Circle.
About Jeremy Allaire
In recent appearances, Jeremy Allaire has emphasized the growth and adoption of Circle’s USDC stablecoin, stating that according to third-party data, USDC accounted for about 80% of dollar digital currency transactions in the first quarter of 2026, with nearly $30 trillion in on-chain transactions. He described USDC as a "free public utility on the internet" and noted that companies including Meta and DoorDash have adopted it. Allaire also discussed the launch of ARC, which he called an "economic operating system" designed for AI agents, and announced the presale of $220 million in ARC tokens with participants including Apollo, BlackRock, and Standard Chartered. He argued that stablecoins are becoming "approved and usable in the core guts of the financial system" and that the technology enables "full reserve banking" as opposed to fractional reserve banking. Allaire has also addressed regulatory developments, expressing support for market structure legislation and describing it as "critical" for unlocking capital market activity. He cited Circle’s work during the COVID-19 pandemic distributing aid to healthcare workers in Venezuela via digital dollars, and a program with the United Nations High Commissioner for Refugees for aid disbursement. On competition, Allaire stated that the track record of consortium coins and new dollar stablecoins is that "none of them have worked," attributing this to strong network effects and high regulatory barriers. He characterized the mainstreaming of cryptocurrency on Wall Street as "tremendous validation" of the original vision for a new internet infrastructure layer for value and financial contracts.