Circle CEO Majority of Legal Jurisdictions Set to Recognize Stablecoins by 2025 Becoming a 10 Global Economic ECurrency

Jeremy Allaire, CEO of Circle, expressed optimism about the future of cryptocurrency. Over the 11 years of building Circle, he believes that most people have limited understanding of the significant developments in the crypto field. His optimism stems from observing the evolution of internet technology over the past 35 years and recognizing the potential of cryptocurrencies for societal and economic transformation. He believes that stablecoins will account for 10% of the global economy in the future.

He stated that in 2013, the concept of cryptocurrency was considered marginal and often associated with illegal activities. Despite limited, slow, and complex technology, Allaire and other early adopters saw the potential of decentralized networks. They faced hostility from financial institutions and skepticism from the media, but their vision for digital infrastructure transformation remained clear.

He believes that the public blockchain infrastructure has now evolved to the third generation, supporting large-scale applications with trusted data, transactions, and computation. A thriving global blockchain network community is constantly innovating to improve data availability, security, privacy, and transaction throughput. Allaire compares the current state of blockchain to the early broadband stage and expects significant progress in the future.

Recent breakthroughs in security, privacy, and scalability, such as zero-knowledge technology (ZK) and fully homomorphic encryption (FHE), indicate that encrypted computing will support major applications. Thousands of startups worldwide are building on this infrastructure, further solidifying the role of digital assets in the emerging global financial system. Major governments are developing clear regulations for digital assets, and Bitcoin has become an important alternative investment asset.

He believes that the world’s largest asset management companies now offer blockchain-based products, and cryptocurrencies have become a global political issue. Governments around the world are competing to promote innovation while ensuring responsible development. Improved user experience makes cryptocurrencies more accessible, and major payment companies are integrating blockchain technology to enhance their services.

He believes that stablecoins have become a clear killer application, providing digital dollars to drive the on-chain economy. They are beginning to be implemented for future banking services, reducing remittance costs, and achieving seamless cross-border commerce. By 2025, stablecoins are expected to be legally recognized as electronic currencies in almost all major jurisdictions, occupying a significant share of the $100 trillion electronic currency market.

He believes that the infrastructure for building, deploying, and operating blockchain applications has made significant progress. Enterprise-grade products and services now support these networks, providing custody solutions suitable for end-user self-custody and institutional use. Developer tools and knowledge are constantly increasing, allowing more and more people to access blockchain technology.

He believes that retail companies are launching applications that connect to public chains and use digital tokens, covering payment, social, gaming, ticketing, and enterprise use cases. National governments are investing in blockchain infrastructure and ecosystem development, incentivizing innovation through legislation. Every week, exciting new applications gain attention.

Allaire believes that we are still in the early stages of cryptocurrency adoption, which makes him very optimistic about the future. He envisions a world where digital tokens are widely understood and used for incentives, governance, and records. With the evolution of blockchain networks, they will support billions of users and millions of applications, revolutionizing finance, commerce, and governance.

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