Even as crypto markets pull back, one corner of the ecosystem continues to grow: stablecoins. In this episode, Circle CFO Jeremy Fox-Geen explains why digital dollars like USDC are seeing rising adoption despite declines in assets like Bitcoin and Ethereum—and how stablecoins have begun to decouple from broader crypto cycles. We discuss the real-world use cases driving that growth, from cross-border payments to global demand for U.S. dollars, and why usage, not just supply, is accelerating. The conversation also explores how stablecoins could underpin a new “internet financial system,” particularly as agentic AI systems begin to transact and exchange value autonomously.
