Circle CEO Jeremy Allaire declared stablecoins the “highest utility form of money ever created” in a recent social media post, while simultaneously acknowledging that the industry has yet to experience its transformative breakthrough moment.
Just weeks after Circle’s successful public debut on the New York Stock Exchange, Allaire compared the current state of stablecoins to the pre-iPhone era of mobile technology, suggesting that a revolutionary tipping point is approaching.
The highest utility form of money ever created. And we are not quite yet at the iPhone moment when developers everywhere realize the power and opportunity of programmable digital dollars on the Internet in the same way they saw the unlock of programmable mobile devices. Soon. https://t.co/tAKgDFrAbW
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) June 14, 2025
The timing of Allaire’s comments coincides with growing institutional interest in digital dollar alternatives, as retail giants Walmart and Amazon reportedly consider launching their own USD-backed stablecoins. Additionally, global e-commerce platform Shopify has confirmed plans to integrate Circle’s USDC for payments by the end of 2025, signaling broader corporate adoption of programmable money solutions.
Programmable Money Revolution
Allaire’s optimistic outlook stems from stablecoins’ unique combination of speed, cost-efficiency, and programmability. The permissionless programmability aspect is what industry leaders believe will drive the next wave of innovation, allowing developers to build financial applications without traditional banking infrastructure constraints.
The concept of programmable money has captured the attention of venture capital firms and technology leaders, as the democratization of financial infrastructure is expected to foster increased competition, ultimately leading to better services, lower prices, and greater accessibility for consumers worldwide.
According to a16z Crypto data scientist Daren Matsuoka, stablecoins recorded $33 trillion in transaction volume over the past 12 months, representing nearly 20 times PayPal’s volume, three times Visa’s volume, and rapidly approaching ACH transaction levels. This massive scale demonstrates significant real-world utility, even without widespread mainstream recognition.
However, critics argue that stablecoins haven’t achieved mainstream adoption due to cost disadvantages compared to existing payment methods. After all, stablecoins currently serve primarily customers without other viable options, though this dynamic is expected to shift as transaction costs continue declining and user experiences improve.
Stablecoin Industry Breakthrough
The stablecoin landscape is experiencing unprecedented institutional interest, with Circle’s recent NYSE listing serving as a watershed moment for the sector. The company’s shares surged 167% in their first trading session, reflecting investor confidence in the programmable money narrative.
The anticipated “iPhone moment” for stablecoins would likely occur when developers worldwide recognize the transformative potential of programmable digital dollars, similar to how mobile app developers embraced smartphone platforms after 2007. This mass adoption thesis is supported by the technology’s practical advantages over legacy payment systems, particularly in cross-border transactions and emerging market applications.
Allaire suggests this breakthrough is imminent, potentially triggered by improved user interfaces, regulatory clarity, or integration with major consumer platforms that could make stablecoin benefits accessible to mainstream users without technical expertise.
