Jeremy Allaire, CEO of stablecoin firm Circle, has claimed that stablecoins are set to bring significant change to the world's financial systems.

He argued that blockchain systems, driven by their use of stablecoins, are becoming the new infrastructure layer of the internet.

According to Allaire, their strength lies in their ability to provide value that is near-instant, almost free, and globally scalable.

He asserted that this technology is on the brink of a breakthrough, where millions of people can use it comfortably without complete understanding of its technical aspects.