"To explore what that means for financial infrastructure, I sat down with Jeremy Fox-Geen, CFO of Circle Internet Group, a leading stablecoin issuer. "We are at the beginning of what can only be described as a global megatrend-the building of the internet financial system," Fox-Geen told me. That system, he explained, encompasses blockchains, digital assets, and the applications built upon them-technologies that promise "massive benefits to businesses and consumers all around the world," he said."
"Stablecoins, such as Circle's USD Coin (USDC), are digital assets designed to maintain a stable value, typically pegged to and backed by the U.S. dollar or equivalent assets. In the U.S., the GENIUS Act has clarified how stablecoins are regulated, Fox-Geen noted. Regulatory certainty, he said, is "a major unlock" for large companies considering digital assets for corporate treasuries-and a driver of multi-year growth for Circle."
"Fox-Geen described Circle as a market-neutral infrastructure company: a platform that sits within the internet financial system's foundation-spanning blockchain, digital-asset, and application layers. "We're a platform that other companies choose to build upon," he said."
Blockchain, digital assets, and related applications are forming an internet financial system that promises broad economic benefits. Circle positions itself as market-neutral infrastructure within that system, offering a platform built across blockchain, digital-asset, and application layers for other companies to build upon. Stablecoins like USDC aim to preserve a dollar peg through backing and support key functions such as trading, settlement, dollarization, and cross-border payments. U.S. regulatory clarity, including the GENIUS Act, reduces uncertainty and unlocks corporate treasury adoption, underpinning multi-year growth and increased mainstream use of stablecoin-based financial infrastructure.
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