Circle CEO: 'iPhone Moment' Coming for Stablecoins
18 Jun, 2025 ● Crypto people
Although stablecoins haven’t yet drawn developers in the same way Apple’s iPhone once did, Circle CEO Jeremy Allaire believes that moment is approaching.
In a recent post, he said the world hasn’t reached the stage where developers everywhere recognize the potential of programmable digital dollars online in the same way they embraced mobile apps—but that it will happen soon. He also described stablecoins as “the highest utility form of money ever created.”
Allaire was responding to a post by a16z Crypto partner Sam Broner, who argued that stablecoins foster competition. Broner emphasized that with programmable money, the cost of launching financial technology has dropped, enabling more innovation, better user experiences, and greater financial access.
This discussion follows reports that major retailers Walmart and Amazon are exploring the launch of their own U.S. dollar-backed stablecoins. At the same time, Shopify has announced it will integrate USDC, Circle’s stablecoin, as a payment option by the end of 2025.
A16z Crypto’s Daren Matsuoka commented that stablecoins might be the key to mass crypto adoption, calling them “the first credible opportunity to onboard a billion people into crypto.” He noted that over the last year, stablecoins have processed $33 trillion in transactions—nearly 20 times PayPal’s volume, almost triple that of Visa, and rapidly closing in on ACH volume.
This surge in usage follows Circle’s listing on the New York Stock Exchange on June 5, where its shares jumped 167% on the first day of trading. Meanwhile, rival stablecoin issuer Tether has stated it has no plans to go public, according to CEO Paolo Ardoino’s June 8 remarks.
Sources:
https://cointelegraph.com/news/stablecoin-adoption-iphone-moment-incoming-circle-ceo-jeremy-allaire
https://x.com/jerallaire/status/1933905277226819641
