Digital cash systems built on the blockchain must retain the qualities of physical money in order to attract more users in developing countries — and must be able to do so without regulatory constraints — according to Circle CEO Jeremy Allaire. In a panel discussion at the World Economic Forum’s Annual Meeting, titled "Remittances for Recovery: A New Era of Digital Money," Allaire discussed all the features that make physical cash an ideal medium for exchange. There’s a reason why “cash is king,” he said, referring to physical money’s portability, privacy and role in securing individual sovereignty. “Cash is a …

Jeremy Allaire, CEO and co-founder of peer-to-peer payments firm Circle, sent a letter to senior staff of the United States Department of the Treasury on Dec. 9, appealing for regulators to collaborate with the industry in adopting crypto regulations. Allaire warned U.S. regulators that some of its proposed rules pose a direct risk to the country’s competitiveness and could potentially trigger unintended consequences around crypto and blockchain-related use cases. The exec specifically referred to a new proposal to prohibit so-called unhosted or self-hosted wallets. Allaire argued that the proposal does not address actual risks in the industry: “I believe the …

One of the leaders in U.S. crypto is optimistic that the space will grow under the administration of Joe Biden governing from the middle. Jeremy Allaire, CEO of Circle, took to CNBC's Squawk Box on Monday to argue that the Biden administration will push crypto forward as part of a broad effort to update infrastructure: "I think that they will ultimately be supportive because this is an infrastructure change as big as the initial commercial internet, and they're going to be focused on infrastructure changes that make America more competitive." Overall, moderate politics benefit crypto, Allaire reasoned: "You've got moderates, …

There has been significant excitement in the industry since PayPal last week announced its intention to enter the cryptocurrency market. The rollout of its new crypto services — enabling both crypto payments and direct, in-app purchases of crypto — has been officially set for early 2021. Yet on Oct. 28, the co-founder and CEO of crypto payments firm Circle, Jeremy Allaire, claimed to have used the PayPal app to buy $100 worth of Bitcoin (BTC), tweeting a screenshot of the apparent transaction. Bought $100 in BTC on @PayPal ! Great milestone for the market! pic.twitter.com/jsxAxTpGgK — Jeremy Allaire (@jerallaire) October …

Despite ongoing bullish movement in crypto markets, Circle continues to sell off wings of its business. Circle, a Goldman Sachs-backed crypto startup that launched USD-pegged stablecoin USDC, has agreed to sell its digital asset investment app Circle Invest to Voyager Digital Canada, the operator of digital asset broker Voyager. Circle Invest customers to be moved to the Voyager Platform by the end of March 2020 As part of the acquisition, Voyager will be integrating features of Circle's new stablecoin platform service into the Voyager Platform, the company announced on Feb. 12. Voyager will also expand its client base to over …

Jeremy Allaire, the CEO of blockchain-based, crypto-inclusive money transfer company Circle, has said that the firm has long believed major fiat currencies will eventually be tokenized. Significant digital currencies In an interview on Aug. 21 on the podcast Global Coin Research, Allaire said that Circle has thought for years that sovereign currencies would go digital. He added: “When we got started with Circle back in 2013, I think our belief has been that there will be significant non-sovereign digital currencies that grow in use and that will be attractive to people for a wide variety of reasons, and Bitcoin obviously …

The CEO of crypto payments firm Circle, Jeremy Allaire, suggested that macroeconomic turmoil is responsible for Bitcoin’s (BTC) recent growth. During the interview with CNBC on Aug. 5, Allaire suggested that Bitcoin has become a safe haven used to store wealth in times of geopolitical and macroeconomic turmoil. Allaire stated that there is a correlation between the recent coin’s gains and the devaluation of the Chinese yuan that just touched its 11-year low, stating: “You can very clearly see some macro correlation there. I think the broader theme of, you know, Bitcoin specifically, crypto more broadly participating in these global …

Circle CEO Jeremy Allaire will attend the crypto power lunch alongside Berkshire Hathaway CEO Warren Buffett, Tron CEO Justin Sun and Litecoin creator Charlie Lee. On July 19, Allaire accepted Sun’s invitation on Twitter to join the much-anticipated $4.6 million lunch with the well-known Bitcoin (BTC) skeptic to discuss issues in crypto industry. In just three minutes after Sun posted the invitation, Allaire tweeted that he is honored to join, adding that the meeting would be a great chance for both Buffett and crypto community representatives to learn from each other. First announced in early June, after the Tron CEO …

Jeremy Allaire, co-founder and CEO of payments company Circle, said that Facebook's Libra will run in a closed-loop permission scheme that has its own requirements for regulation during an interview with Bloomberg released on July 5. During the interview, Allaire pointed out that there are different stablecoin implementations distinct in their regulatory approach. He explained: “There’s a really key difference between stablecoins that run on kind of closed-loop permission schemes — which is how Libra is being proposed today, at least in its initial incarnation — versus stablecoins that can run on the public internet.” Allaire also specified that the …

Canadian businessman and TV personality Kevin O'Leary said that cryptocurrencies pose serious compliance challenges to the financial services industry. During an interview published on July 3, O’Leary said that he would not invest or get involved in cryptocurrencies because of their purportedly unregulated nature: “If I want to be compliant and I don’t wanna breach any regulators because I’m a participant in financial services globally, and that is where the majority of money is, [...] I have to be compliant, I have no interest in doing any of this crypto crap because it is not compliant.” O’Leary suggested a hypothetical …

The CEO of Goldman Sachs-backed crypto finance startup Circle blamed a hostile regulatory climate in the United States as he confirmed layoffs of 30 staff on social media May 21. Following a blog post in which he described the difficulties operating in the U.S., Jeremy Allaire said that executives had taken the decision to release roughly one in ten of Circle’s employees. “Today we made organizational changes at Circle and eliminated approximately 30 positions, which is about 10% of our employees,” he wrote. Allaire stated: “We made these changes in response to new market conditions, most importantly, an increasingly restrictive …

The cryptocurrency space needs regulatory certainty and the current definition of cryptocurrency is too broad, said the CEO of crypto finance startup CIrcle, Jeremy Allaire, in a blog post on May 20. Allaire’s statement comes in the wake of the “geofencing” of nine different coins for United States-based clients of digital currency exchange Poloniex, which is owned by Circle Internet Financial. Poloniex said then that the decision was motivated by the uncertain regulatory environment in the country. In the recent post, Allaire stated that digital assets represent a fundamental new class of financial instrument and should not be considered securities, …