Allaire said on an earnings call that investor focus is moving beyond speculative crypto toward open global markets for tokenized stocks, commodities and other assets.
Circle Chief Executive Officer Jeremy Allaire said the digital-asset market is evolving away from purely speculative cryptocurrencies and toward an open global market built around tokenized stocks, tokenized commodities and other tokenized assets. Speaking on an earnings conference call, Allaire said the shift marks a transition from speculation-led trading toward infrastructure that can support a wider range of tokenized assets, including equities and commodities. He said Circle is supporting that transition through stablecoins and onchain technology. Circle previously reported second-quarter revenue of $701 million and adjusted EBITDA of $143 million.