Circle’s CEO foreshadowed the stablecoin revolution and compared it to the birth of mobile technology

Circle CEO Jeremy Allaire said that stablecoins are on the cusp of a technological revolution comparable to the early stage of development of mobile devices. He emphasized that the potential of programmable money is still underestimated, just as smartphones were once underestimated.

The reason for the comment was a post by a16z venture capital firm partner Sam Broner, who noted that stablecoins increase competition in the financial industry. According to him, programmability reduces the cost of developing fintech products and increases the quality and availability of services.

Daren Matsuoka, a16z data expert, added that in the last 12 months, the volume of transactions with stablecoins has exceeded $33 trillion – 20 times the volume of PayPal and three times that of Visa. This figure is already approaching the turnover of the ACH system used in the U.S. for interbank transfers.

Matsuoka noted that it is the stablecoins that can bring mass adoption of cryptocurrencies into everyday life. He called it “the first real opportunity to bring a billion people to the crypto market.”

Circle, the USDC issuer, is actively promoting the idea of programmable stablecoins as the foundation of digital financial infrastructure. Allaire is confident that the proliferation of these instruments will transform global payment systems in the coming years.