Oppenheimer analyst Owen Lau initiates coverage on Circle Internet Group (OTC: CRCL) with a Perform rating.

The analyst comments: "We are initiating coverage of Circle Internet Group (CRCL) with a Perform rating. Circle is the issuer of USDC, the second-largest stablecoin globally with market share of 24%. USDC is a tokenized US dollar running on the internet, providing a faster, cheaper, global, and more convenient way for trading, payments, remittance, settlement, and access to the US dollar. We have known the company for 4+ years, not only because of our coverage of COIN, but also on our belief that stablecoin is a 'killer app' in blockchain. CRCL is a 'clean' way to get exposure to blockchain disruption in money market funds, real estate, consumer payments, and capital markets. More important, USDC will be a compliant, global currency for transactions in the on-chain world."

For an analyst ratings summary and ratings history on Circle Internet Group click here. For more ratings news on Circle Internet Group click here.

Shares of Circle Internet Group closed at $0.00 yesterday.