Circle CEO: stablecoin law will expand use of the digital dollar
- —The GENIUS Act takes effect in January, giving USDC legal electronic currency status
- —Allaire estimated the market base at $60 trillion in perpetual cash and demand deposits
- —The CLARITY Act delay has limited impact on Circle's strategy — its key stablecoin law has already passed
- —Circle National Trust will become the core of USDC infrastructure, with rules being prepared by the Fed and OCC
Why it matters: Legalizing digital dollars opens stablecoins' access to banks, capital markets and corporate payments, intensifying competition for the $60 trillion deposit market.
Source: TokenPost