Jeremy Allaire on the Long-Term Strategy for Digital Money

Throughout 2025, Jeremy Allaire has been at the center of discussions on how the cryptocurrency industry should build a more robust and regulated infrastructure for digital money. As co-founder, Chairman, and CEO of Circle, he has set an ambitious agenda focused on making digital currencies backed by the dollar a core part of the global financial system. His influence extends beyond business milestones — it reflects a coherent vision of what the future of programmable finance should look like.

The Win Against Regulatory Uncertainty

One of Jeremy’s major achievements is championing the GENIUS Act, or Guiding and Establishing National Innovation for U.S. Stablecoins Act. In mid-2025, this legislation passed the U.S. Senate on June 17 and the House on July 17, before becoming law when President Trump signed it on July 18. For the industry, this was a significant victory because it established the first federal framework specifically for stablecoin licensing and reserve requirements.

Jeremy’s advocacy was critical in building momentum for this. In a Bloomberg interview in February, he did not hide his criticism of unregulated competitors like Tether (which issues USDT). He stated that companies wanting to offer USD stablecoins in the U.S. should undergo the same regulatory process as traditional financial institutions. “If you want to offer your stablecoin in the US market, you need to register here — no ‘free pass,’” was his message. This principle became a cornerstone of the GENIUS Act.

Circle’s Expansion: From USDC to Institutional Infrastructure

Circle continues to grow under Jeremy’s leadership. Their flagship product, USD Coin (USDC), has become the second-largest stablecoin by market capitalization, reflecting increasing trust in regulated digital currencies. But his vision doesn’t stop there.

On June 30, Circle announced a significant step: an application to the Office of the Comptroller of the Currency (OCC) to establish the First National Digital Currency Bank, N.A. This move is strategic — it demonstrates Jeremy’s commitment to legitimizing digital finance through traditional banking infrastructure.

Arc: The “Economic OS” for Blockchain

Later in the year, Jeremy’s focus shifted to Arc, an institutional-grade blockchain platform launched by Circle. This is his vision for the future: a full operating system for digital financial activity built on blockchain. At the Future Investment Initiative in Riyadh, Saudi Arabia in October, he presented the concept of Arc as an “economic OS for the internet” capable of processing payments, foreign exchange, lending, and capital market flows at sub-second speeds.

The ambitions are large. Over 100 companies — from banking, payments, technology, and AI sectors — have tested Arc’s public testnet ahead of the planned mainnet launch in 2026. For emerging markets, especially in the Middle East region, USDC demand presents another major opportunity. The combination of regulated stablecoin infrastructure and institutional blockchain platform is what Jeremy envisions as the foundation for the next generation of programmable financial systems.

The Long-Term Goal: Programmable Finance for All

In December, during a conversation with WIRED, Jeremy called blockchain networks “economic operating systems paradigm.” This insight is not just marketing speak — it’s a philosophical statement about the future of finance. He believes that the transition to programmable financial systems will be a “major part of what happens on the internet in the next five to ten years.”

Jeremy’s influence does not come from a single product or policy victory. It stems from his ability to articulate a comprehensive vision that reflects both regulatory pragmatism and innovation ambition. While others push for permissionless chaos or pure DeFi idealism, Jeremy shows there is a pathway for regulated, institutional-grade digital finance that can reach billions of users worldwide. 2025 has been the year where his strategic bets have become reality — and it sets the trajectory for the next chapters of the cryptocurrency industry.