No Priors: Artificial Intelligence | Technology | Startups The Agentic Economy: How AI Agents Will Transform the Financial System with Circle Co-Founder and CEO Jeremy Allaire
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Apr 9, 2026 
Jeremy Allaire, Circle co-founder and CEO behind USDC, maps out a future where AI agents use programmable money and blockchain rails to transact. He digs into why banking falls short, how Arc could power machine-driven commerce, and why tokenized assets, privacy tech, productive proof of work, and a possible GDP boom make this shift so compelling.
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Circle Began With Internet Dollars And Machine Finance
- Jeremy Allaire started Circle to create internet-native dollars that move instantly, globally, and cheaply.
- He paired that with an early belief that blockchains would become operating systems for programmable money and autonomous software machines.
Stablecoins Revive The Full Reserve Banking Idea
- Jeremy Allaire argues stablecoins realize a safer full-reserve banking model inside the existing dollar system.
- He contrasts them with fractional-reserve banks, citing the Chicago Plan and saying stablecoin law now narrowly restricts reserve risk.
One Stablecoin Can Handle Micropayments And Massive Settlement
- USDC is backed by cash, repos, and short-duration U.S. Treasuries, with average duration around 13 days.
- Jeremy Allaire says the same token handles 25-cent in-game payments, AI-to-AI micropayments, and multi-hundred-million-dollar trading settlements.
