Circle CEO Jeremy Allaire rejected claims that interest-bearing stablecoins threaten financial institution stability, noting that cash market funds grew to $11 trillion with out inflicting financial institution runs. Allaire envisions stablecoins as a foundational layer for future lending, following a broader development of credit score shifting from conventional banks towardsContinue Reading
Circle is ready to accumulate the engineering group and proprietary know-how from Interop Labs, the preliminary developer of the Axelar cross-chain community. The acquisition goals to strengthen Circle’s interoperability efforts by integrating Interop’s experience into Circle’s enterprise blockchain (Arc) and its native cross-chain switch answer (CCTP) for USDC. Axelar willContinue Reading
The total stablecoin market has grown to an all-time high of US$280 billion, doubling in size since the beginning of 2023, with projections from McKinsey analysts seeing it grow to over US$2 trillion by 2028. The growth and institutional adoption are largely attributed to the passage of the GENIUS ActContinue Reading
Circle has partnered with Mastercard and Finastra to integrate its stablecoins, USDC and EURC, into traditional financial systems for cross-border payments and settlements. The collaboration with Mastercard will enable merchants in Eastern Europe, the Middle East, and Africa to settle in USDC, while the Finastra deal will let banks inContinue Reading
Following its latest earnings report, Circle shares dropped more than 6% even as USDC circulation rose 90% to US$61.3 billion (AU$93.9 billion). Analysts highlighted slower USDC growth, rising distribution costs, and broader macroeconomic pressures as key factors affecting performance. Mizuho lowered its price target to US$84 (AU$128.8), citing concerns overContinue Reading
