Circle, led by CEO Jeremy Allaire, aims to build the internet’s financial infrastructure around its stablecoin USDC and its Arc blockchain, seeking to become a core layer of global payments. In a Yahoo Finance podcast interview, Allaire said that a decade from now, stablecoins and asset tokenization could account for a large share of economic activity, and that Circle intends to run a significant portion of the new digital economy on its platform. Since its IPO in June, Circle has accelerated the expansion of its stablecoin-based payments and asset-tokenization ecosystem, aided by the GENIUS Act which strengthened USDC’s legal status.
Circle reported momentum in its latest quarterly results, with revenue and reserve earnings of $740 million for the third quarter, up 66% year over year, and net income up more than 200%. The company noted that its primary revenue source remains interest income on short-term U.S. Treasuries, reflecting a traditional-finance tilt amid a depressed digital-asset market. Despite the downturn in the crypto market, Allaire stressed that Circle is not a crypto company and is aiming to transcend traditional financial constraints.
Analysts remain bullish on Circle, with JPMorgan’s Ken Worthington observing that stablecoins are rapidly integrating into mainstream financial services and that USDC sits at the center. Circle rolled out Arc last autumn, forming partnerships with BlackRock, Visa, and Amazon Web Services. This month, Intuit signed a multi-year contract to enable USDC usage for American taxpayers and small businesses, while Cross River Bank and HighNote are developing payment cards that support USDC; HighNote’s Luca Cosentino said stablecoins are poised to become a core component of future payments infrastructure.
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