The Network State Podcast #34 - Sean Neville
Jan 16, 2026
In this conversation, Sean Neville, co-founder of Circle and founder of Catena Labs, dives into the world of stablecoins and machine-native money. He discusses the importance of the USDC stablecoin and the unique governance model of the Centre Consortium. Sean also explores the future of programmable money for AI agents and the crucial infrastructure needed for secure agent-to-agent transactions. Expect insights on balancing compliance with usability and the innovative potential of merging AI with crypto.
AI Snips
Chapters
Transcript
Episode notes
Interoperable Dollars Unlock Programmability
- USDC was designed as an interoperable, multi-chain dollar to enable global payments and programmability.
- The goal was a neutral standard not owned by a single vendor so dollars could move over internet rails.
Why USDC Was A Two-Party Consortium
- Balaji and Circle named USDC to signal Circle, Coinbase, and the Center Consortium partnership.
- They intentionally kept the consortium small to agree and ship quickly rather than a hundred-member body.
Fund Infrastructure With Patient Capital
- Use patient capital and avoid ICO-driven short-term pressure when building foundational infrastructure.
- Treat a stablecoin as an ecosystem utility rather than a near-term revenue product.