Circle CEO Jeremy Allaire Says Stablecoins Are Becoming Digital Cash

Circle CEO Jeremy Allaire says stablecoins are moving from crypto trading tools to everyday digital cash and could soon operate behind the scenes for banks and major companies. according to BeInCrypto, Circle won a US bank charter after applying to the OCC in June 2025 and receiving final approval on July 10 for First National Digital Currency Bank, which Allaire called the first new digital asset bank the OCC has chartered. He said the market is shifting toward payments and capital markets, while analysts on CNBC see stablecoins growing from $1 trillion to several trillion dollars in coming years. The GENIUS Act, signed in July 2025, takes effect by January 18, 2027, or earlier if regulators finish rules first.