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For years, Jeremy Allaire has bet that stablecoins will play a major role in our financial future. In 2025, that wager made Allaire look smart.
His company, Circle Internet Group
CRCL, listed its shares on the New York Stock Exchange in a blockbuster initial public offering in June, and the company’s market capitalization recently stood at $26.5 billion. Its main product is a U.S. dollar–backed stablecoin called USDC USDCUSD — a digital currency with its value pegged 1:1 to the dollar. USDC is now the second-largest stablecoin in the world by market capitalization and the largest issued by a U.S. crypto player.