Circle's Chief Strategy Officer to Congress: Payment Stablecoins Advance U.S. Competitiveness and National Security

Dante Disparte, Circle's Chief Strategy Officer, addressed the U.S. House Financial Services Committee on the role of stablecoins in payments and the need for legislative clarity. In his testimony, Disparte highlighted the importance of stablecoins, such as Circle's USDC, in maintaining the U.S. dollar's global dominance in a rapidly digitalizing economy. He emphasized that comprehensive legislation is essential for fostering innovation, protecting consumers, and ensuring the U.S. remains competitive internationally. Disparte also underscored the potential for stablecoins to offer financial inclusion and security, particularly in crisis situations, as demonstrated by their use in aiding Ukrainian refugees. Circle's experience with USDC shows a responsible, regulation-first approach, urging Congress to establish clear guidelines to support safe and innovative use of digital currencies.