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CoinDesk Podcast Network

Jeremy Allaire on Circle's ‘Multi-Decade’ Strategy and Where Stablecoin Regulation Is Headed

Circle’s CEO says his plan is to focus on building the most compliant, transparent, regulated, market neutral infrastructure, and the rest will follow.

September 13, 2023
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Unchained - Jeremy Allaire

It's been a busy year for USDC issuer Circle, with several new product launches and partnerships, a crypto banking crisis to contend with, the entry of PayPal into the stablecoin business, and plenty of new global regulatory developments, including a bill in the U.S. now making its way through Congress. Circle co-founder and CEO Jeremy Allaire joins Unchained for an in-depth discussion on the reasons behind Coinbase’s investment in Circle, how Circle has emerged stronger from the banking crisis, what he thinks of PYUSD, what he likes and doesn’t like about the current U.S. stablecoin bill, and his thoughts on what the final bill will look like.

Show highlights:

  • Why Circle and Coinbase created the Center Consortium and why Coinbase acquired a stake in Circle?
  • Whether Circle is aiming to be acquired or become a public company, and why Jeremy is pursuing a "multi-decade" strategy.
  • Why Circle partnered with MercadoLibre and the stablecoin usage in Latin America?
  • How the company has been supporting developers to build applications.
  • Why Circle is launching native USDC on so many new blockchains?
  • What the purpose of cross-chain transfer protocol (CCTP) is and what the big problems with bridges are.
  • How Circle responded to Silicon Valley Bank’s collapse and why the world began to feel that "it's not safe to be exposed to the US."
  • Jeremy's thoughts on the launch of PayPal's stablecoin, PYUSD.
  • Why is having stablecoin legislation a "national priority," according to Jeremy?
  • Why Jeremy is a proponent of a fully reserved banking system?
  • Why did he think the US needs to "aggressively" take action to preserve the global reserve currency status of the US dollar?
  • How China’s national digital currency is likely to develop.
  • How crypto can provide a better way of supporting identity without giving up privacy?
  • Why blockchain technology is much more than just a financial regulatory matter?

Links |

Unchained:

Coinbase Acquires Equity Stake in Circle Amid USDC Updates and Market Challenges

Will PayPal’s PYUSD Steal Market Share From Tether and Circle?

The Fall of SVB: What Happened and How It Affects Crypto

CoinDesk:

U.S. Stablecoin Bill Takes Big Step Despite Fight From Democrats, White House

Circle Seeks to Make Crypto Payments Easier With New 'Programmable Wallets'

Written Statement of Jeremy Allaire Before the United States House Committee on Financial Services, “The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem”

South China Morning Post:

Head of crypto firm Circle accepts ban in mainland China, but sees role for yuan-backed stablecoins

TechCrunch: Solana Pay integrates plug-in with Shopify for USDC payments

Decrypt: Circle Partners With Mercado Libre to Bring USDC to Chile

Jeremy’s comments on the launch of PYUSD

Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.

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