Circle Internet Group stock soars amid stablecoin growth momentum

Investing.com -- Circle Internet Group (NYSE: CRCL) stock soared 15% Thursday morning as positive sentiment for stablecoins continues to drive investor interest in the company.

The rally comes as Circle’s USDC stablecoin circulation reaches approximately $72 billion, representing a 107% increase YoY, according to Canaccord Genuity analyst Joseph Vafi. Quarter-to-date, USDC circulation has grown about 16% sequentially, outpacing analyst expectations.

Vafi attributes this growth primarily to broad-based activity in digital assets over recent months, particularly within crypto capital markets. The analyst noted that current USDC circulation is already approaching Canaccord’s published estimates for the first quarter of 2026.

The passage of the GENIUS Act, which recognizes compliant stablecoins like USDC the same as cash by the U.S. Government, is providing additional tailwinds for Circle. The legislation establishes stablecoins as a potential "money layer" for the internet, with USDC maintaining a significant early market lead.

TD Cowen’s James Marple highlighted that stablecoins are transitioning from crypto-asset trading tools to a regulated component of the U.S. financial system. He noted that digital stablecoin technology could make payments faster, cheaper, and more reliable, particularly for cross-border transactions.

The GENIUS Act requires U.S. payment stablecoins to be fully backed by safe, liquid assets and undergo strict audits, aiming to build trust and prevent failures that previously undermined confidence in the sector.

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