Stablecoin, IPO and Circle
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According to Fortune, the tech giants are in early talks with crypto firms to add stablecoin payments to reduce fees.
By Arasu Kannagi Basil (Reuters) -Stablecoin issuer Circle Internet's shares climbed 48% on Friday, extending a stellar run after a blowout market debut on the New York Stock Exchange a day earlier. New York-based Circle's stock went as high as $123.
Circle’s IPO highlights crypto’s mainstream shift, with USDC driving revenue and new fintech services expanding its reach. Read why CRCL stock is a hold.
Wider stablecoin adoption, plus smaller partner payments, could offset pressure from lower returns on cash.
The cryptocurrency company's stock opened for trading on the NYSE at $69 apiece, valuing the stablecoin issuer at nearly $18 billion.
Stablecoins are a fast-growing corner of the cryptocurrency industry that offer a buffer against volatility because they are pegged to real-world assets, like U.S. dollars or gold.
Circle goes public as stablecoin adoption and regulation hit a key turning point. Can $CRCL prove resilient if interest income becomes less reliable?