Circle CEO says crypto market is shifting toward tokenized assets

Circle CEO Jeremy Allaire said the crypto market is moving away from speculative trading toward a structure centered on trading tokenized assets. Speaking on Circle’s earnings call, Allaire reproduced the English phrase "open market" in describing a transition from a legacy structure focused on speculative trading to a stage in which the market supports tokenized versions of a range of assets, including stocks and commodities. He added Circle supports that shift through stablecoins and on-chain technology. Circle previously posted second-quarter revenue of $701 million and adjusted EBITDA of $143 million.