Circle CEO Jeremy Allaire is betting the global economy is about to flip digital - and his $78 billion USDC stablecoin is positioning to be the operating system powering it all. Speaking at WIRED's Big Interview event, Allaire outlined his vision for an 'economic OS for the internet' that treats money as an app platform, setting up what he calls a fundamental shift in how the world handles finance over the next decade.
Circle CEO Jeremy Allaire just dropped his boldest prediction yet: the global economy is headed for a digital makeover, and stablecoins are going to run the show. Speaking at WIRED's Big Interview event in San Francisco, Allaire laid out his vision for what he calls an 'economic OS for the internet' - essentially turning money into a programmable platform.
'Basically, there are new operating system paradigms that emerge all the time. The web is one, mobile is one, cloud is another, AI is another OS paradigm,' Allaire told WIRED's Steven Levy during the Thursday event. 'And these blockchain networks are economic OS paradigms, at least what we're doing.'
The timing feels right for Allaire's big swing. Circle's USDC has grown into the second-largest stablecoin by market cap, sitting at around $78 billion - a figure that puts it ahead of many traditional financial institutions. Unlike volatile cryptocurrencies like Bitcoin, USDC maintains a 1-to-1 peg with the US dollar, making it attractive for cross-border payments and as a digital refuge for people in countries with unstable currencies.
But Allaire isn't stopping at digital dollars. The real play is Arc, Circle's new platform that aims to be the foundation for what the company describes as a 'new internet financial system.' Think of it as the iOS for money - a trusted, neutral platform where blockchain technologies can build and interact. Allaire believes this transition 'is going to be a huge part of what unfolds for the internet over the next five to 10 years.'
The regulatory landscape is finally catching up to Allaire's vision. Circle was a vocal supporter of the GENIUS Act, which Congress passed in July, establishing clear rules for launching stablecoins in the US. The law has already sparked competition - even Tether, historically resistant to US regulation, is now planning to launch a compliant stablecoin called USAT.
