I have been deeply involved in blockchain and cryptocurrency since 2013 when I led Circle’s Series A round. At the time, Jeremy and I saw a massive opportunity before us. The promise of cryptocurrency then was enthralling. Yet, we also felt strongly that we were still many years away from mass adoption and scale. We’re not there yet, but thanks to inspiring work from the Circle team, we are much closer.

Today at Consensus and in the coming weeks, Circle will be making a series of exciting announcements. I write today to share how proud of this company I am and how optimistic I remain about its future. Five years ago, Jeremy, Sean, and I dreamed of a world where money would move like information. We asked ourselves: what if money could move across borders, between currencies, and among friends without friction? We knew that moving, sharing, trading, and investing money had to be easier and realized that blockchain could provide novel and effective answers.

The road here wasn’t easy. Like all maturing companies attempting to change the world, Circle faced adversity from a variety of incumbents and incumbent forces. Until 2017 cryptocurrency was at best considered niche and, in many cases, viewed with suspicion and disdain. Today much of this uncertainty lingers and, I must add, for good reason.

After all:

· Many crypto companies, compared to traditional tech companies, lack focus.

· Valuations still, even post hype-cycle, are too high considering present-day use cases.

· And everyone is still learning, even the most knowledgeable people in the space.

Yet I also can say with conviction that this technology is legitimate and has tremendous staying power. Circle has figured out this sector in ways that few others have and I can’t wait to see how they adapt to the changing space and play a proactive role in changing it for the better. I hope that other crypto companies will follow Circle’s example and build legitimate and necessary products. This space is immature but is quickly maturing. The next few years will be fun.

We have some big things ahead of us. Stay tuned and keep your eyes peeled.