Good discussion with @initc3org on our recent work on stablecoin usage
"If [stablecoins were] just for digital asset trading, I wouldn't be sitting here today."
@Circle Chief Economist & former Fed economist @gordonliao breaks down how stablecoin usage has quietly decoupled from market speculation, shifting into everyday payments and behaving more like physical cash.
EP 5 of Proof of Research drops 10.15.26 👇
If you have an oz of doubt whether your RWAs will be secure given concerns regarding ECDSA and public key cryptography, you should consider issuing your RWAs on @arc and using cirBTC.
Signature migration takes institutional scale coordination that few can achieve as easily
Dollar rivals could still catch up by embracing innovations. Our recent Jackson-hole paper now available through @nberpubs
The dollar remains dominant, with the euro and renminbi stuck in a fragmented second tier. Innovations like dollar-backed stablecoins could entrench that dominance further. Rivals could still catch up by embracing innovation, though a multipolar system might prove more fragile in a crisis, from @gordonliao, @EswarSPrasad, and Tony Zhang nber.org/papers/w35822
Looking forward to discussing bringing the HTTP for money and the Economic OS to the fastest growing and most dynamic continent
today, we’re diving into @arc, circle & the future of african innovation.
what is arc really building?
how does stablecoin infrastructure change finance?
and where does africa fit into this new financial system?
🎙️ guest: @gordonliao
🎙️ co-host: @Afriverseworld
come curious. leave informed.
For the option/vol traders, the LP premium in implied vol terms is likely north of 10% against a low vol currency pair realizing around half that amount app.uniswap.org/explore/toke…
Gordon Liao retweeted
NEW: @Circle launches @Arc mainnet, an L1 blockchain purpose built for stablecoins, RWAs, and agentic payments.
Circle's Chief Economist and Head of Research, @GordonLiao, on what Arc is designed to be:
"It is a general purpose platform and operating system that will support economic coordination between humans and machines."
Gordon Liao retweeted
Arc Mainnet is live.
Arc launches as the Economic OS for the internet: an open platform for global markets, real-time value movement, tokenized assets, and agentic economic activity.
Arc is more than a blockchain.
It launches as a full-stack financial platform with assets, applications, interoperability, developer infrastructure, and Circle platform services live from day one.
Arc delivers USDC as native gas, deterministic sub-second finality, EVM compatibility, and institutional validators.
It integrates with Arc Studio, App Kits, Arc Portal, Circle Agent Stack, CCTP, Gateway, CPN, and StableFX.
A complete economic platform at genesis.
Arc launches with infrastructure for:
→ Agentic economic workflows
→ Lending and borrowing
→ Trading and liquidity
→ Onchain FX
→ Payments and settlement
→ Tokenized assets
→ Exchanges, wallets, custody, compliance, data, and developer tooling
190+ institutional and ecosystem builders are building across Arc.
Great conversation with @alextapscott and my old friend @nkennethk on everything from tokenization, emerging market leapfrog, and the upcoming Arc launch. Check it out
New @defidecodedpod is out!
Could @circle and @Uniswap dominate the next era of finance?
Great discussion with two big brains on how the digitization of financial markets will upend the status quo.
Thanks to @gordonliao and @nkennethk for stopping by.
Check it out 👇
The dollar's share of FX reserves is at a two-decade low. Treasury convenience yields have turned negative.
End of dollar dominance? No — but financial innovation could reshape the system.
Our new Jackson Hole Economic Policy Symposium paper, w/ @EswarSPrasad & Tony Zhang 🧵
Three futures for the international monetary system:
1. Greater concentration — most likely on today's path
2. True multipolarity — best, but needs deep markets, strong institutions, innovations
3. Fragmentation — the riskiest
The outcome isn't preordained. Policy decides.
Paper + slides: kansascityfed.org/documents/…
kansascityfed.org/documents/…
Presented at the Federal Reserve Bank of Kansas City's Jackson Hole Economic Policy Symposium, Aug 27–29, 2026. Grateful to the organizers and discussants — and to my co-authors @EswarSPrasad and Tony Zhang.