Stablecoins are approaching a major inflection point, according to Circle CEO Jeremy Allaire, who compared the current state of the industry to the period just before the iPhone revolutionized technology in 2007. He believes that widespread adoption by developers, financial platforms, and retailers could soon unlock the next era of programmable money.
In a recent post, Allaire stated that while stablecoins have not yet reached their defining moment, the tipping point is close. He described stablecoins as the most practical and useful form of money ever created, highlighting their potential to transform financial systems globally.
Retail adoption signals growing demand
Allaire’s comments come amid reports that top U.S. retailers such as Walmart and Amazon are exploring their own stablecoins backed by the U.S. dollar. Meanwhile, Shopify has confirmed it will integrate Circle’s USDC for payments by the end of 2025. The rollout began on June 13 with early access for select merchants, facilitated in partnership with Coinbase.
Shopify CEO Tobi Lutke noted that stablecoins are a natural fit for online transactions. He said that the company had collaborated with Coinbase to create a smart contract-powered payment system tailored for digital commerce.
Industry experts highlight utility and growth
Support for stablecoins is growing among fintech experts and venture capital leaders. Sam Broner, a partner at a16z Crypto, emphasized that programmable digital dollars make building financial applications easier and more cost-effective. Stablecoins, he said, promote competition, lower transaction costs, and enhance user experiences.
Daren Matsuoka, a data scientist at a16z, added that stablecoins processed over $33 trillion in volume over the past year. This figure is nearly 20 times that of PayPal and almost triple Visa’s volume, underlining their growing role in digital finance.
Legislation and IPO fuel momentum
The company Circle has been gaining momentum since June 5, when it made a public listing on the New York Stock Exchange, and its stock increased by 167 percent on the initial trading day. This move in the market shows that investors have a keen interest in stablecoins. Conversely, Paolo Ardoino (Tether CEO) ensured that the company had no intention of becoming publicly traded and that it would still be a privately owned company. Meanwhile, the GENIUS Act is advancing through the U.S. Senate with bipartisan support. The bill aims to provide clear regulatory standards for stablecoins, including collateral rules and anti-money laundering requirements. If passed, it could accelerate institutional adoption across the financial sector. Major U.S. banks, such as JPMorgan and Citigroup, are as well reportedly thinking over a common stablecoin project.