AI agents can already collaborate, but they lack a trustworthy medium in which to store value and execute contracts. Enter Circle’s Arc Blockchain, an economic “operating system” designed for a world where machines drive the real economy. Circle co-founder and CEO Jeremy Allaire joins Elad Gil to dive into the future of programmable money and the agentic economy. Jeremy explains why traditional banking fails to support the needs of AI agents, and how stablecoins like USDC facilitate an internet-native economy. They also discuss the tokenization of real-world assets, the move toward full-reserve banking, and Jeremy’s predictions for double-digit GDP growth as AI and blockchain reach their “broadband moment.” 
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Chapters:
00:00 – Cold Open
00:05 – Jeremy Allaire Introduction
00:21 – Origin Story of Circle
02:11 – Rethinking the Financial System
05:26 – The Role of Stablecoins
09:52 – Use Cases for USDC
11:30 – Programmable Money 
12:25 – Blockchain as Operating System
14:37 – The Agentic Economy
17:45 – Arc Blockchain Use Cases
27:00 – Scaling Models and Privacy Tech
30:45 – Securitization of Other Assets Under the Blockchain
34:16 – Prediction Markets
35:09 – Incremental Revenue Through GPU Usage
37:19 – Jeremy’s 10 Year Future Vision
41:12 – AI and GDP
44:00 – Conclusion

No Priors: AI, Machine Learning, Tech, & Startups

Circle co-founder and CEO Jeremy Allaire discusses the origins of USDC as a full-reserve digital dollar, how stablecoins are backed by short-duration US treasuries, and the growing use cases from micro-transactions to large capital markets settlements. He explains Circle's new ARC blockchain, designed as an economic operating system for the agentic economy, with known validators, USDC as the native token, built-in privacy primitives, and deterministic settlement finality. The conversation covers how AI agents will need programmable, globally interoperable payment infrastructure, the tokenization of real-world assets like stocks, the potential of inference-as-proof-of-work, and a 10-year vision where new onchain organizational forms emerge alongside a renegotiation of the social contract driven by AI diffusion.

How AI Agents Will Transform the Financial System with Circle Co-Founder and CEO Jeremy Allaire