Video｜Circle CEO: Stablecoins Will Become "Digital Cash" in the Economic System, Market Size Expected to Reach Trillions of Dollars

On July 20, Circle CEO Jeremy Allaire stated in an interview with CNBC that the GENIUS Act will establish a unified federal regulatory framework for the US stablecoin market. Large stablecoin issuers will be required to come under the supervision of national banking regulatory authorities, and as a result, Circle also plans to join the new system as a national trust bank.

In his view, stablecoins are still in a very early stage, gradually evolving from digital asset trading tools to entering payments and capital markets. With the Act coming into effect in January 2027, banks, payment companies, and large enterprises will all be able to conduct business based on stablecoin infrastructure, using it as "digital cash." Allaire believes this will drive the stablecoin market from $1 trillion to several trillion dollars in the coming years.