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Circle CEO says USDC is neutral layer, not competing with Visa, Mastercard

Circle CEO Jeremy Allaire says the company’s dollar-pegged stablecoin USDC is being built as neutral financial infrastructure rather than a competitor to existing payment systems, Cointelegraph reported. In an interview with CNBC, he says Visa and Mastercard are important partners and Circle does not compete with banks or payment firms. As U.S. Congress discusses digital asset bills, he says bipartisan agreement is forming and the focus includes the broader market.