Jeremy Allaire on USDC utility
From CRCL live AMA with CEO Jeremy Allaire · · Circle
“When you look at what our stable coin network today is, it is one of the world's largest payment systems in a sense handling trillions of dollars of transactions. It is actually a free public utility on the internet. USDC the protocols on these blockchain networks are interoperability protocols. We have created a free public utility for storing and moving dollars and storing and moving dollars at virtually no cost. Tens of thousands of companies build on that and integrate that. They don't have to call us. They don't have to do a deal with us. They can permissionlessly build. That's never existed before.”
On , Jeremy Allaire, CEO & Co-Founder at Circle, spoke about USDC utility 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.