Dante Disparte
@ddisparte
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Chief Strategy Officer, Head of Global Policy @circle, Chairman @RiskCoop Digital Currency Governance Consortium @WEF, Life Member @CFR_org
Washington, DC
Joined November 2014
Ours is a labor of love at @circle and I truly love what we do and why we do it. Because nothing worth doing is worth doing alone, we are proud to contribute to more inclusive financial access around the world with $USDC.
For the first time in history, we can activate the full economic potential of humanity thanks to digital dollars like $USDC. See how USDC might be the secret to financial inclusion.
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@circle is currently protecting #USDC from a black swan failure in the U.S. banking system. @SVB_Financial is a critical bank in the U.S. economy and its failure - without a Federal rescue plan - will have broader implications for business, banking and entrepreneurs.
Silicon Valley Bank is one of six banking partners Circle uses for managing the ~25% portion of USDC reserves held in cash. While we await clarity on how the FDIC receivership of SVB will impact its depositors, Circle & USDC continue to operate normally.
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Congrats @bgarlinghouse, @s_alderoty and @Ripple team - your move into dollar #Stablecoins, like PayPal's before it, underscores how U.S. regulatory clarity can create a growing market in the U.S. and an export product of digital dollars around the world.
Launching a stablecoin is a natural step for Ripple as we bridge the gap between traditional finance and crypto. We have 1/ the years of experience 2/ regulatory footprint 3/ a strong balance sheet and 4/ a network with near global payout coverage, to offer the best of.
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To #CBDC or not to #CBDC? That is the question I was invited to ponder in the latest edition of @IntlEconomy. Responding to an earlier paper making the case for #CBDCs, here's my response in the opposition:
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Word to the wise…when traveling, go to the gym. Today’s workout partner…the legendary .@springsteen. @circle’s #USDC was also #BornInTheUSA 🇺🇸
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Thanks @EleanorTerrett - apology accepted. Alas, there is a lot of churn, swirl and rumors informing the market right now.
Here is the response from @circle. I went with the word of several trusted sources on this. I apologize for the mistake @ddisparte.
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The era of responsible #DigitalCurrency innovation meets the #Euro. Euro Coin from @circlepay will build on the fundamental trust in #USDC and meet market demand for always-on Euros. Read more.
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It's a real honor to share that @circle has become the first global #Stablecoin issuer to be #MICA complaint for both hashtag $USDC and EURC. Years in the making, today's announcement marks a major milestone in how regulated digital currencies will become a permanent pillar in.
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It was great joining the team at @chainlink to discuss @Circle's strategy and the magic that happens when #Blockchain and tech fades to the background.
“Blockchain infrastructure allows, for the very first time, for us to re-envision what the Internet is supposed to be.”. @circle’s @ddisparte joins #Chainlink’s The Future Is On series to dive into the mass adoption of stablecoins ↓.
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We join the calls from policymakers, regulators, investors, businesses and, most of all, people who rely on a well-functioning U.S. banking system as a condition precedent of growing an economy. We will all be smarter on Monday.
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Today, the @federalreserve, @FDICgov and @USOCC issued another joint statement to U.S. regulated banks. It makes a salient point that it is not unlawful to bank a novel sector, even if its deposit base might prove flighty, as we saw with #Crypto in 2022.
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The principal balance of #USDC reserves are held in the Circle Reserve Fund - 80% short dated U.S. treasuries - and across other U.S. banks.
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I'm grateful to Congressman .@RoKhanna and .@mcuban for convening a principled conversation on how to advance pro-innovation #DigitalAsset policies in the U.S. For an industry whose technological viability depends on consensus, we should aspire to forming political consensus as
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Circle is pleased to make France the base of our regulatory operations in Europe - announced today in the lead up to Paris Blockchain Week.
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A great cover story of @circle’s fearless leader @jerallaire in @Forbes. @ninabambysheva and @Steven_Ehrlich go deep into the history of this #DigitalDollarDefender #USDC .
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Such a tangible example of the power of #USDC with @StellarOrg and @MoneyGram. Convergence and value transfer rails that are always-on like people's financial needs. #GameChanging.
A simple explanation of what is happening NOW on Stellar, thanks to our partnership with @MoneyGram and @circlepay’s USDC. So much potential!.
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As with Silvergate, our teams have worked at speed to limit any exposure to banks. This includes a wire transfer request made before SVB's FDIC receivership. A $3.3 billion cash exposure remains - but we follow state and Federal regulatory guidance.
1/ Following the confirmation at the end of today that the wires initiated on Thursday to remove balances were not yet processed, $3.3 billion of the ~$40 billion of USDC reserves remain at SVB.
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You cannot build the economy of the future, unless you have the money of the future. I’m grateful to @10DowningStreet, number 11, and all UK regulatory and policy stakeholders for a constructive @circle state visit. The pro growth and pro innovation vision set out by Prime
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I'm looking forward to representing @circle as a witness in next week's @FinancialCmte #PaymentStablecoin hearing. Other witnesses include @NYDFS Superintendent Harris, @BlockchainAssn' @jchervinsky and @CampbellJAustin.
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Fascinating coverage in @ForbesCrypto from @DelRayMan on how @Google is making #blockchain searchable.
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Amid crypto's darkest hour and a dark time for the world, a community of purpose with @StellarOrg, @Refugees, @MoneyGram and @circle have come together producing a bright light. #USDC .
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Listen to @JasonYanowitz.
Lot of FUD about USDC right now. Keep in mind:. • BNY Mellon is their custodian .• BlackRock manages reserves.• Visa settles transactions in USDC.• 100% backed by cash and treasuries.• Audited by Deloitte, annual audits filed w SEC. I think the FUD is overblown.
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Japan passing a law that treats well-regulated #Stablecoins like digital cash is an important milestone. Other jurisdictions should take note and follow suit. This distinction matters, which is why we call #USDC a dollar digital currency.
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Gov. @GavinNewsom sets a standard for getting it right, rather than getting it fast. The opportunity for harmonizing responsible digital asset innovation in the U.S., where innovation, inclusion and integrity are not trade offs needs political leadership.
NEW: California Governor Gavin Newsom vetoed Assembly Bill 2269, saying it would be "premature" to create a licensing regime specific to crypto without considering feedback from stakeholders and the cost of a new licensing structure. @nikhileshde reports.
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Sharing this as an open letter to leaders in the #Crypto, #Web3 and broader community. @circlepay has long held the view that financial #Inclusion, #Innovation, #Privacy and protecting the #Integrity of the financial system are not competing objectives.
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Sharing an copy of my written testimony ahead of today's @FinancialCmte / @FSCDems hearing on #PaymentStablecoins. As goes this legislation, so goes the dollar's role as a native currency on the internet.
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#Blockchain and #USDC what are they good for you ask? @tori_samples provides answers on @StellarOrg's breakthrough Aid Assist solution.
A bit of me getting to do what I love ☺️.
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I'm grateful to the Entrepreneurial Insurance Symposium for giving the tall order of being the closing keynote speak…
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I endorse this message! Always great sharing a stage with @DenelleDixon and @StellarOrg.
“Is it really your money if you have to ask someone to spend it and ask someone to hold it for you?” — @circle’s @ddisparte takes the #Meridian main stage with @DenelleDixon
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Love this @coinbase ad for its simplicity and truth. The reboot of the financial system needs responsible innovation. Responsible innovators and the competitiveness of the U.S. economy need a regulatory base that does not stigmatize technology.
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Happy to share my latest piece in Project Syndicate, which provides a counter narrative to the argument that the U.S. is losing the #DigitalCurrency space race to potentially hostile nations or actors. A vibrant free market based o…
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This is a great feature story of Circle's fearless leader, @jerallaire, in Boston Globe Media. No one has done as much as him in ensuring regulated, trusted and useful #DigitalCurrencies emerge.
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It goes without saying that my first interview to explain the financial services upside down would be with .@ChrisBrummerDr - bank contagion in #Crypto or #Crypto contagion in banks? Either way, there is co-dependency.
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I'm looking forward to flying the @circle flag alongside @coinbase, @brian_armstrong and key business and policy leaders as Update the Systems comes to the nation's capital. Substantive U.S. rules for #Crypto, #Stablecoins and the permanent role of open technologies (aka.
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.@coinbase marketing nails it again. We may need to make 4/24 the new bitcoin pizza day for these great ads shining a light on the uncomfortable subject of our financial plumbing. No one cares how our actual plumbing works until they can't flush.
What if pizza worked like money?.You’d probably lose your appetite. Crypto moves money (and pizza) forward.
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While I'm the first to say not all #stablecoins are created equal, to say they are an unregulated part of the internet wildcat banking era is patently untrue. In this new report, I compiled the 10 most common misconceptions about #Stablecoins.
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#MiCA is not crypto's Y2K moment that can be ignored. Really consequential developments underway for digital assets in the world's third largest economy.
Major changes coming in European digital asset markets on June 30th with the effectiveness of MiCA Stablecoin Regulations. 👀.
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I was featured in El Nuevo Dia (Puerto Rico's leading newspaper) on my role as an advisor to Power Ledger.
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I'm really excited to welcome @TeanaTaylor to Circle as our Vice President of Policy and Regulatory Strategy. Teana is a force of nature and has been at the forefront of sound digital assets policy. #Onwards and #Upwards.
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.@CryptoCwby thanks for asking about the differences b/w bank-issued deposit tokens (aka tokenized deposits) and payment #stablecoins like #USDC (aka tokenized cash or what the EU's #MiCA framework would call e-money tokens). A thread follows 🧵:.
@ddisparte @jerallaire Can you please explain the difference between a bank issued deposit coin and a stablecoin? . These seem similar - I’m both cases, the entity holding USD & issuing tokens uses those funds to earn yield. Thanks!.
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I'm looking forward to being a judge at the @StellarOrg i³ Awards. Join us on Day 2 of #Meridian2024 to discover the inaugural winning projects for Impact, Innovation, and Interoperability.
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An important call to action from @SenatorHagerty and an example of a possible House-Senate compromise on U.S. leadership for dollar-denominated payment #Stablecoins. We're not going to win the #DigitalCurrency space race by consigning these innovations to the shadows.
For too long, the benefits & promise of stablecoins have been hindered by a lack of legal clarity. My new draft legislation builds off @PatrickMcHenry’s work & establishes the framework necessary to unlock this technology’s potential to benefit Americans.
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I'm pleased to share my reflections on Europe's Markets in Crypto-Assets Framework #MICA and how it corresponds with the EU's economic competitiveness in the era of responsible, always-on financial services.
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I'm grateful to the @FinancialCmte and @FSCDems for the opportunity to testify in today's #PaymentStablecoin hearing. It was the most constructive yet and there is a perceivable unity of purpose and national clarity emerging.
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.@PowerLedger_io is a part of the global energy security challenge. @intpolicydigest thanks for sharing my reflections with @DavdMartn. Timely as I'm in #PuertoRico discussing what stands in the way of the #BuildBackBetter agenda.
The Changing #Energy System – A Blueprint for Economic Recovery #BuildBackBatter @DavdMartn @ddisparte @intpolicydigest
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Ahead of @TreasuryDepSec’s testimony tomorrow in the Senate Banking Committee, I share perspectives in @CoinDesk on how the passage of #PaymentStablecoin legislation would advance US national security and set a financial crime compliance standard in #Crypto.
Illicit finance in crypto is a problem, but painting all of “crypto” as equally responsible and negligent is misguided, says @ddisparte @circle. What we badly need is a new law clarifying stablecoin issuers’ obligations to stop money laundering. Opinion.
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This is what happens when one of the most thoughtful technology policy leaders in the world .@TomicahTD joins one of the most effective investing teams in the world at .@a16z. We've long argued for a better internet, now it may be within reach.
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"The G7 believe that no #stablecoin project should begin operation until the legal, regulatory and oversight challenges and risks are adequately addressed". From .@Libra_ we agree.
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While I'm glad to finally have an answer on a U.S. #Infrastructure question I posed in 2015, the targeted strike on the #blockchain and #crypto industry in today's infrastructure bill is shortsighted.
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In the war for digital trust and #crypto custody, risk management is key according to Yusuf Hussain. My exclusive review in Forbes of (@tylerwinklevoss and @winklevoss) Gemini's moves.
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Merci President .@EmmanuelMacron, Ministers .@BrunoLeMaire and .@jnbarrot for the invitation to Choose France 2023. @circle has chosen France and we look forward to building the future of money on both sides of the Atlantic and around the world.
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A really powerful, clear and tangible message from @idriselba and @StellarOrg. At @circle we share this sense of purpose, because nothing worth doing, is worth doing alone.
Fact-check: Stashing cash, waiting for remittances, unnecessary overdraft fees, and lack of economic access should not be the norm. You know what’s broken; the Stellar network has the toolbox. Build better with Stellar.
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@circle is pleased to respond to the .@WhiteHouse Office of Science and Technology Policy .@WHOSTP. The emergence of #DigitalAssets and underlying open #Blockchain technologies are important building blocks advancing U.S. competitiveness.
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The House Financial Services Committee’s vote to advance payment stablecoin legislation reflects the need for the U.S. to lead the future of money and finance, rather than be led. We urge broader bipartisan cooperation and consensus as this important effort moves forward - it’s.
#BREAKING: Chairman @PatrickMcHenry's Clarity for Payment Stablecoins Act passes the Financial Services Committee with BIPARTISAN support. After fifteen months of bipartisan collaboration, this landmark legislation is one step closer to becoming law.
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.@PowerLedger_io co-founder @DavdMartn and I review the energy system of the future as a path to ecoomic recovery in @intpolicydigest. #PuertoRico #BuildBackBetter @amsecproject #EarthDay2018 .
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Banks introducing risks to #Crypto was not contemplated in the policy cards, but nonetheless lends urgency to calls for Congressional action on Federal oversight of U.S. payments innovations. @PatrickMcHenry @RepMaxineWaters .
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Yes a #Stablecoin "broke the buck" this week in spectacular form and risks causing #CryptoContagion. But conflating "stable in name only" coins for well-regulated, prudentially managed dollar digital currencies like #USDC would be wrong. My reflections:.
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It was an honor meeting the 694th @citylordmayor, Nicolas Lyons of the @cityoflondon alongside @jerallaire, @TeanaTaylor and colleagues. With the future of finance, past is prologue.
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A truly inspiring and honest conversation today moderated by @circle's Ashley Scott. Rep. @RitchieTorres, @johnhopebryant, @ChrisBrummerDr and @usblackchambers' Ron Busby delivered a clarion call - we can either be bystanders or protagonists in #Web3 and the future of money.
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Yesterday's passage of #FIT21 was a powerful reminder that sensible #Crypto policy is not only bipartisan, like all novel technologies, it should be pre-partisan. Passing #FIT21 and #PaymentStablecoin legislation would be to digital assets, what the #CHIPSAct is to computing.
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I'm excited to confirm the news that I'm joining Circle to lead strategy and global policy and look forward to joining @jerallaire and an incredible team. We have common cause with Diem Association in building a more inclusive fina…
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The emergence of #Stablecoins (noting that not all are created equal) has triggered an important global policy and regulatory conversation. With a front row seat in this work since 2019, I'm pleased to share @circlepay's stablecoin policy principles.
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There's a lot of interest in #stablecoins and the nexus of financial #Innovation, #Inclusion and #Integrity. Pro-innovation policies can have exponential improvements on all three. Resharing my views in Harvard Business Review.
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We have done more in four days than we have in four years to send the world a clear policy and regulatory signal that the U.S. will be the global leader in digital assets, dollar stablecoins, and emerging technologies like blockchain and AI.
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I'm pleased to share my reflections on been appointed to the .@centre_io board. Founded in 2018 by .@circlepay and .@coinbase as a standards setting organization advancing standards, protocols and adoption of #blockchain based financial services.
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An amazing example of the #USDCEconomy at work.
Did you hear?. We're integrating #USDC on @StellarOrg. Read about it in their latest blog post.
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I'm pleased to share my testimony ahead of tomorrow's #Stablecoin hearing in the United States Senate Committee on Banking, Housing, and Urban Affairs. Circle stands for the extensibility of dollars on the internet in a safe, prude…
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@circlepay has responded to the @CommerceGov request for comment on how #Blockchain and #DigitalAssets can advance U.S. economic competitiveness and security. Our response is available here.
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While some are espousing a scorched earth policy, at @circle and as @jerallaire said on @SquawkCNBC, #CryptoIsPurple - here’s my message from yesterday’s @Crypto4Harris townhall.
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The day is nigh and the @WhiteHouse #CryptoEO reports are in. While reactions in industry may be mixed, an industry that is consequential enough to warrant whole of government attention has in fact arrived.
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.@CAgovernor @GavinNewsom has signed a #Blockchain executive order calling for accelerated #Web3 development in the 5th largest economy in the world.
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This is the crux of the whole thing! @samconnerone gets it. @joshualipsky like we were discussing earlier. #ItsTheRails that matter.
Sending a few $USDC to #Kenya…walked into a @cvspharmacy using @MoneyGram with @vibrantapp on @StellarOrg and it immediately appeared in my digital wallet! This is 🔥🔥🔥🔥🔥. #blockchain works….you’re just paying attention to the wrong networks . #XLM powered .@StellarGlobal_
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Last year @circle's policy team responded to virtually every global consultation shaping #Crypto, #Stablecoin and #Blockchain regulatory policy - these responses would fill a 400 page book. Here we respond to the @BIS_org Basel Committee highlighting areas where banks and.
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Niall Ferguson pens a thoughtful piece on the evolution from the gold standard, to Bretton Woods to the emerging world of linking monetary policy to digital transformation.
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#Stablecoins what are they good for? Look no further than @StellarOrg and @MoneyGram who are leading the way in building a bridge between an always-on digital economy and real world value. $USDC.
“We’re turning MoneyGram into a global ATM concept using blockchain”. @circle is on 🔥.
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Today, .@circle launched a brand new campaign: “Money is now open”. We are proud to tell the story of how #DigitalDollars can create new opportunities for people and businesses from Brooklyn to Brazil. Imagine the possibilities when money is as open as the internet itself.
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On November 3rd, @circle submitted a @USTreasury response on keeping blockchain-based finance #open, #secure, and universally accessible.
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Recommended reading - while this paper is not representative of Fed policy, the analysis explores interesting questions of whether new payment systems or arrangements warrant new forms of money or wholesale #CBDC.
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The .@WhiteHouse and .@POTUS Executive Order on #Crypto, #Web3 and #DigitalAssets marks a coming of age moment for the industry. My reflections below on how this whole-of-government approach can spur U.S. competitiveness and security.
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Sensible, important, timely and very much in favor of responsible innovation. No surprise @RebeccaRettig1 and @0xPolygon are leading the charge with sensible policy principles. #MustRead.
1 / Today @0xPolygon Labs is proud to drop its Core Policy Principles – a set of four guideposts that will drive our approach to advocating for sound laws for the web3 ecosystem. More info 👇 . Check out our GitHub to collaborate:
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When I said not all #Stablecoins are created equal, I had weeks like this one in mind. Sharing my reflections on the importance of being stable and outlining how even basic conformity with e-money or state money transmission rules…
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It was great seeing you @TreasuryDepSec. Your call to action was clear today and resonates with my view that financial inclusion, innovation and integrity are not tradeoffs. While some aspects of Treasury's proposals may invoke questions, you have twice shown up in person at.
It was a pleasure to speak at today’s Blockchain Association Policy Summit, where I focused on the steps we must take to prevent bad actors from using the digital asset ecosystem for illicit activity.
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Big news today at .@circlepay announcing #CircleImpact, a whole of company initiative to advance our mission of raising global economic prosperity through the frictionless exchange of financial value.
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In addition to a major payments company processing more than $300 million in #USDC payments, Bitso's $1 billion in U.S.-Mexico remittances is another powerful example of real world impact.
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The concept, safety and soundness of bank-issued deposit tokens will not age well post #SVB.
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