Featured interview: Circle CEO Jeremy Allaire

The US Congress has very little time left to avoid a default. Whether that happens or not, even flirting with the prospect has big consequences for investors in US assets like US government bonds, which are supposed to be the safest assets to own. Imagine you provide a product whose value is tied to the US dollar and investors trust that you have exactly the same amount of cash or bonds, for example, to back it up. In very simple terms, that is how a stablecoin works. Circle is a financial service company that issues one of the world's largest, known as a USDC. Stablecoins facilitate trades in cryptocurrencies, but they're also used to lend, borrow and send payments around the world with lower transaction costs. Joining Julia to discuss is Circle CEO Jeremy Allaire. To learn more about how CNN protects listener privacy, visit cnn.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices