Stablecoins are gaining attention as laws and companies support their growth.
- Circle’s stock jumped 500% since early June
- Tether and Euro-backed stablecoins gain momentum
- Mastercard, Visa, and others are joining the stablecoin trend
Circle Hits $77 Billion Valuation
Circle, the company behind USDC, has seen a massive rise since going public on June 5. Its stock price has surged by 500%. It’s now valued at $77 billion. That’s even more than the total value of all USDC coins in circulation — which is around $62 billion.
Circle’s stock, traded under “CRCL,” has become the most traded foreign stock in South Korea. This shows strong interest from international investors.
Stablecoins Win Global Support
Stablecoins are digital dollars or euros. They don’t really change in value. That makes them useful for payments and saving money. Tether, which runs the USDT coin, is now investing in big brands like Juventus, a famous soccer team in Italy.
Euro-backed coins like EURC, created by Circle, have grown their market size by 44% this year. These coins are getting more attention, especially in Europe.
GENIUS Act and Regulation Push
The U.S. may soon pass the GENIUS Act, a law focused on making clearer rules for crypto markets. A top senator told the White House the bill will likely be ready by September 30. If passed, it could help stablecoin firms operate with more legal clarity. This legal progress is encouraging more companies to invest in stablecoin tech.
Big Companies Move In
Mastercard and Visa announced deals with crypto firms like Chainlink, Kraken, and Moonpay. Their goal is to make stablecoin use easier for the billions of people who use their cards. This shows that traditional finance companies now see value in crypto-based payments.
At the same time, Coinbase, a big crypto exchange, makes more from USDC than even Circle does. Its stock just reached its highest price since 2021.
More Adoption and Less Risk
The Federal Reserve now says crypto isn’t a “reputational risk” for banks. This could open doors for more banks to work with crypto firms in the U.S. All signs point to increasing trust, use, and value of stablecoins around the world.
Source: coindesk.com
