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Circle stock price pump gains steam, but a crash may follow
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Circle launches Gateway for USDC transfers across seven blockchains

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Stablecoin issuer Circle has launched Gateway, enabling instant USDC transfers across seven major blockchains.

Summary

  • Circle launched Gateway to unify USDC liquidity across seven blockchains
  • Gateway connects USDC on Arbitrum, Avalanche, Base, Ethereum, OP Mainnet, Polygon PoS, and Unichain on launch day
  • According to Circle, Balances will be accessible cross-chain in <500 ms

Circle has made a significant step in USDC usability. On Tuesday, August 19, Circle launched Gateway on mainnet, connected to seven major blockchains. The platform unifies USDC balances across Arbitrum, Avalanche, Base, Ethereum, OP Mainnet, Polygon PoS, and Unichain on launch day. Circle announced expansions on other chains, with Arc next in line.

Currently, stablecoin liquidity is fragmented across several blockchains. For this reason, exchanges require more capital to operate, and managing their treasuries is complicated. Moreover, rebalancing creates delays and higher costs.

Gateway provides a unified USDC balance across several chains, using a mix of smart contracts and off-chain attestation. According to Circle, cross-chain transfers happen in less than 500 ms, providing a single-chain experience.

Moreover, assets in the Gateway Wallet are self-custodial, remaining under user control. Specifically, assets cannot be burned or minted without user authorization. Additionally, users can initiate a trustless withdrawal even if the Gateway API is unavailable.

Circle riding on growing stablecoin demand

Users have to deposit USDC into a Gateway Wallet contract on any chain. As soon as they do, balances update on all chains. To transfer funds, the Gateway Minter mints USDC on the destination chain while burning on the source chain.

Circle is riding the wave of growing stablecoin adoption. According to the company’s Q2 reports, the company earned $658 million in revenue, up 53% from the previous year. The main reason for this rise was an 86% in USDC circulation, driven by demand for stablecoins.



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USDC Issuer Circle Spikes After Wall Street Firm Initiates With Buy Rating

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In brief

  • Circle (CRCL) surged 14% to $228 after Seaport Global initiated coverage with a buy rating and $235 price target, calling it a “top-tier crypto disruptor.”
  • The rally was fueled by the Senate’s passage of the GENIUS Act stablecoin legislation, which would create the first federal framework for dollar-pegged stablecoins.
  • Circle and Coinbase both benefited from the regulatory momentum due to their revenue-sharing agreement on $61.2 billion in USDC cash reserves, while Robinhood declined 1.65%.

USDC issuer Circle was buoyant in pre-market trading Friday, climbing above $236 ahead of the opening bell. That put it ahead of the $235 price target set by Wall Street research firm Seaport Global, which initiated coverage of the company today with a buy rating.

But once the bell rang, the company’s stock, which trades on the NYSE under the CRCL ticker, settled and is currently changing hands around $228, or 14% higher than its previous close.

Seaport announced that it was initiating coverage of Circle on Friday, before markets opened. The firm’s analyst Jeff Cantwell called the stablecoin issuer “top-tier crypto ’disruptor’,” and said he thinks the $260 billion stablecoin market will balloon to $2 trillion.

In the analysis, which Cantwell shared with Decrypt, Cantwell wrote that USDC was always meant to be disruptive. ““Early on, Circle’s founders envisioned the development of an ‘HTTP for Money’, to make money more frictionless in order to help raise global economic prosperity,” he said.

Cantwell also predicted that investors will see Circle’s annual revenue grow up to 30%, with gross margins around 40%, as it continues to scale.

And although interest rates are working in Circle’s favor now, he said the company’s strength could also be its biggest risk. “Nearly all of Circle’s revenue still comes from interest earned on reserve assets — 99% in both 2023 and 2024,” he wrote. “This is both a strength and a risk if interest rates fall.”

Both Circle and crypto exchange Coinbase have captured a lot of investor attention since the Senate voted in favor of key stablecoin legislation, the GENIUS Act, on Tuesday afternoon. That’s because the two companies have an agreement that sees them splitting the interest earned on the $61.2 billion worth of cash reserves backing the company’s stablecoin tokens.

The GENIUS Act, if signed into law, would represent the first comprehensive federal framework for U.S. dollar-pegged stablecoins.

Coinbase, which trades on the Nasdaq under the COIN ticker, started Friday 3% above its Wednesday close. (Remember: Markets were closed in the U.S. on Thursday, June 19, in observance of Juneteenth.)



But trading platform Robinhood—which is less exclusively tied to crypto assets and doesn’t have links to a stablecoin—got off to a bumpy start on Friday morning. The company, which trades on the Nasdaq under the HOOD ticker, is trading for $76.76, or 2% lower than it was on Wednesday afternoon.

HOOD on Wednesday hit a 52-week high of $77.83, surpassing the $61 price target set for it by Deutsche Bank and $69 set by Cantor Fitzgerald earlier this year.

But it has a ways to go before it closes in on the $90 price target of Summit Redstone Partners’ Michael Cyprys.

Just last week, Robinhood reported that total platform assets grew to $225 billion in May, up 10% from April and a staggering 89% hike compared to the same time last year.

Edited by James Rubin

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Ripple Mints 13 Million Rlusd To Compete With Usdt And Usdc
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Ripple Mints 13 Million RLUSD to Compete with USDT and USDC

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Ripple has minted 13 million RLUSD, taking its stablecoin closer to the $500 million market cap milestone. The transaction was detected on Etherscan and posted by Ripple Stablecoin Tracker on X, indicating that the new tokens were transferred to a familiar liquidity address, alluding to increasing usage.

RLUSD, launched to compete with USDT and USDC, is designed for payments, trading, and on-chain liquidity. This latest mint shows Ripple’s clear push to gain a bigger slice of the stablecoin market. Just two days earlier, Ripple minted another 10 million RLUSD, and now the total market cap has reached $428.7 million.

According to market observers, RLUSD may soon break the half a billion dollar mark within a matter of weeks at the current rate. The achievement of such a level might indicate the increase of trust and potential interest of institutional players.

The on-chain data shows that the RLUSD is distributed well among wallets with no single wallet having an excessive proportion. This proves the fact that RLUSD is gaining momentum in different DeFi platforms and exchanges.

The wallet receiving the 13 million tokens has previously handled similar-sized transactions, suggesting the funds may be heading to centralized exchanges or major DeFi protocols.

Since stablecoins are increasingly becoming a part of the crypto economy, the swift growth of RLUSD by Ripple is an indication of intent. A market cap of 500 million dollars will not be a figure anymore, but it may be the time when RLUSD will be a real contender in the stablecoin world.

Also Read: How the GENIUS Act Could Benefit Ripple’s RLUSD, USDC, USDT



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Usdc Now Live On Xrp Ledger Via Uphold Integration
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USDC Now Live on XRP Ledger via Uphold Integration

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Global digital finance platform Uphold has made an official announcement that it has onboarded USDC (USD Coin) into the XRP Ledger (XRPL) as a strategic step towards enabling its global users to carry out cross-border cryptocurrency transactions more conveniently.

We’re bringing you USDC on XRPL!

Enjoy the flexibility of moving your $USDC to your Uphold and external XRPL wallet.

The XRP Ledger is designed to connect financial institutions, payment providers, and individuals, enabling fast and low-cost cross-border crypto transactions pic.twitter.com/gpY0mtj3lO

— Uphold (@UpholdInc) June 19, 2025

Uphold tweeted in a recent statement that deposits and withdrawals of USDC to and from its user account and an external XRPL address are now available and give the user more flexibility and quicker settlement times. The advancement is set to fortify the increasing utility of XRP Ledger, which is broadly noted to be fast, dissimilar in transaction cost, and scalable.

XRP Ledger (XRPL), a financial incentive created by Ripple, promises to interlink financial institutions, payment providers and individuals to provide a decentralized framework that can be useful in effective global payments. Uphold is facilitating the integration of the traditional finance system with blockchain-based payment systems by launching USDC, one of the most ubiquitous and least questioned stablecoins on XRPL.

The combination of both offers access of Uphold clients to the robust XRPL network where they can send, receive and store XRPL without limits easily as it also provides low-cost and nearly real-time transactions. It also coincides with the overall mission of Uphold that is to provide simple access to any digital asset across many different blockchains.

This change comes as a chance for entrepreneurs, traders, and developers working with crypto, allowing them to utilize the advantages of both controlled stablecoin and a proven ledger technology to implement it in the real world.

The launch comes at a time of great regulatory change around stablecoins in the USA, as the Genius Act has just been passed on June 18,2025. It promises to establish a comprehensive federal framework for fiat dollar backed stablecoin. The Genius Act is opening gates of institutional adoption for Circle, which also recently had a successful IPO launch.

Also Read: Circle USDC is Now Live on the Ripple XRP Ledger





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Shopify to Roll Out USDC Stablecoin Payments on Base in Coinbase Team-Up

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In brief

  • Coinbase and Shopify partnered to advance stablecoins in ecommerce.
  • Early access for USDC payments on Base is now live for select merchants, rolling out more broadly throughout the year.
  • The pair also collaborated with payments giant Stripe to build an open source payment protocol.

Consumers  will soon have the option to buy anything from Shopify-powered merchants with Circle’s USDC stablecoin on Coinbase’s layer-2 network Base, thanks to a new collaboration between Shopify and Coinbase. 

The feature will start in early access today and roll out to all merchants throughout the year, according to Shopify CEO Tobi Lutke.  

“We think that stablecoins are a natural way to transact on the internet and worked with Coinbase to develop the commerce payment protocol smart contract that powers this work,” Lutke posted on X (formerly Twitter). 

The Shopify frontman joined Coinbase CEO Brian Armstrong onstage at the 2025 Coinbase State of Crypto Summit on Thursday afternoon to break the news, telling the audience that Shopify is “extremely aligned with everything crypto stands for.” 

“Buyers coming to Shopify stores will see a USDC on Base payment option, and they’ll be able to use it in the same way as anything else,” Lutke said on Thursday. 

Previously, shoppers could use crypto to pay Shopify merchants via plugins like Solana Pay or Coinbase Commerce, but in the future, the option to pay with USDC on Base will automatically be present. 

To power the new commerce experience, the pair collaborated alongside payments giant Stripe, and built a permissionless payments protocol and smart contracts to help handle more complicated payment mechanics. 

“What we did is build a smart contract that models this sort of complex state machine of taking the escrow money and then releasing it to the merchant if the transaction finally happens,” Lutke said. 



Called the Commerce Payments Protocol, the open-source protocol makes necessary improvements to commerce payments that previously didn’t exist. 

“On-chain payments have worked for peer-to-peer transactions, but not for more complex commerce purchases which require a multi-stage payment commitment process,” posted Base software engineer Conner Swenberg on X. 

“For example, merchants can run out of inventory and need to cancel a purchase, buyers can request refunds, orders may be completed in multiple deliveries, and more,” he added. :The Commerce Payments Protocol fills this gap to enable on-chain commerce at scale.”

The protocol now will enable merchants to enable buyer incentives as well, like providing 1% cash back on purchases. 

This work will also allow us to offer buyer incentives like 1% cash back in the future. And it’s all transparent to merchants, they will simply get normal local currency payouts the same as usual (unless you choose to keep it as USDC!). Stripe helped us make this totally seamless

— tobi lutke (@tobi) June 12, 2025

“The big takeaway from my point of view is that for the first time, this is a large-scale ecommerce platform adopting crypto payments, and it just shows that crypto is updating the financial system,” said Armstrong. 

Shopify previously added Solana Pay in 2023, allowing payment in USDC on Solana. That plugin got a major upgrade last year, opening the door to payments with hundreds of different assets from the Solana blockchain. 

Its collaborator, Stripe, has been intertwining itself with crypto heavily of late, announcing an acquisition to acquire wallet infrastructure company Privy on Wednesday and adding stablecoin payments platform Bridge for $1.1 billion in October. 

Circle, the stablecoin issuer of USDC, last week held its initial public offering (IPO) for $31 a share. Shares had more than quadrupled in price by Monday, and closed Thursday at $106.54—still up sizably from the offering price.

Shares in both Shopify and Coinbase dropped around 4% on Thursday. 

Edited by James Rubin

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Circle stock price pump gains steam, but a crash may follow
Crypto Trends

Circle brings USDC to XRP Ledger in major stablecoin expansion post-IPO

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With native USDC support, the XRP Ledger gains a trusted, regulated stablecoin, while Circle accesses the ledger’s proven cross-border infrastructure for strategic expansion following its public debut.

USDC issuer Circle announced on June 12 that the world’s second-largest stablecoin by market cap has been deployed on the XRP Ledger, allowing developers, institutions, and users to access it directly on the network—without the need for bridging.

The company said its institutional stablecoin creation platform, Circle Mint, and Circle APIs now fully support USDC on the XRPL mainnet, bolstering the stablecoin’s liquidity while enabling users to benefit from the XRPL’s fast and secure infrastructure.

USDC use cases on the XRPL

According to the announcement, users can leverage USDC on XRPL for a range of purposes, including real-time payments and cross-border remittances. XRPL is known for low transaction costs and rapid global settlements. Ripple has noted that its payments platform has processed over $70 billion in transactions to date.

Developers can integrate USDC into decentralized finance products, trading applications, and on/off-ramping services. With support from Circle Mint and its APIs, institutions gain a streamlined gateway to issue, redeem, and manage USDC at scale, while taking advantage of XRPL’s decade-long track record of high throughput, low fees, and regulatory-friendly design.

“Regulated stablecoins like USDC coming to the XRPL will enable new institutional and retail use cases by leveraging the ledger’s built-in capabilities for compliance, tokenization, low-cost settlement, and seamless on/off-ramps,” said Markus Infanger, Senior Vice President, RippleX.

The integration marks a strategic step for Circle, coming just one week after its public listing. The move expands USDC’s footprint across major blockchain ecosystems and reinforces the firm’s commitment to embedding its stablecoin within both advanced crypto networks and legacy financial systems.

For XRPL, the addition of USDC enhances its appeal to wallets and global financial service providers seeking enterprise-grade stablecoin liquidity without sacrificing security or efficiency.



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World Network integrates native USDC and Circle’s CCTP
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World Network integrates native USDC and Circle’s CCTP

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World Network has upgraded its blockchain with native USDC support and Circle’s cross-chain transfer protocol.

The update, announced by World Network on June 11, brings an end to bridged USD Coin (USDC) on World Chain, replacing it with fully-backed, native tokens issued directly by Circle. Native USDC will give its 27 million users a faster, more reliable way to move money.

Until now, users held bridged versions of USDC, which are wrapped assets representing USDC from another chain. Native USDC, in contrast, is directly minted and redeemed by Circle, backed 1:1 by U.S. dollar reserves. This upgrade improves transparency, trust, and liquidity.

In addition to native USDC, the introduction of CCTP V2 facilitates cross-chain transfers, enabling developers and users to transfer USDC between blockchains more rapidly and cheaply. It also supports better composability, or the ability for applications to interact seamlessly across decentralized finance platforms.

A number of new features are made possible by this integration, including Circle Mint access for qualified companies, improved developer tools for creating USDC Mini Apps, and quicker peer-to-peer transfers. All previously bridged USDC on World Chain has already been automatically upgraded to native.

World Network, which positions itself as a global digital identity and finance platform, has seen growing use of USDC for remittances and payments through Mini Apps in its World App. The latest update enhances this functionality while opening the door for developers to build more financial tools directly into the platform.

This comes just weeks after World raised $135 million from investors like a16z and Bain Capital Crypto in a public Worldcoin (WLD) token sale. Other recent milestones include the launch of the Orb Mini device in the U.S., a partnership with Visa, and entry into Taiwan, Argentina, and Thailand on May 31.

Despite facing regulatory challenges in countries like Indonesia, Kenya, and Brazil, World continues to grow, with plans to add support for Circle’s euro-pegged EURC in the near future.



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Circle Stock Jumps as USDC Stablecoin Expands to Sam Altman’s World Chain

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In brief

  • Shares of Circle are up more than 10% today as its stablecoin expands natively to World Chain.
  • The company is now valued around $28.34 billion, up nearly 4x from its IPO price.
  • USDC is now natively supported on 21 different blockchains.

Shares of stablecoin giant Circle are up more than 10% today as the firm’s USDC stablecoin and cross-chain transfer protocol expand to World Chain, the blockchain co-founded by OpenAI CEO Sam Altman that’s focused on human verification.

As part of the integration, all bridged USDC tokens on World Chain were automatically upgraded to the newly launched native USDC. 

“We’re excited to announce that native USDC and CCTP V2 are now live on World Chain,” the firm wrote in a blog about the announcement. “This upgrade enhances liquidity, security, and capital efficiency for developers and users across the World Chain ecosystem.”

The expansion now puts USDC, the second largest stablecoin, on 21 different blockchains, the announcement says. 



Circle stock (CRCL) is currently trading above $116, up more than 10% on the day and sitting at a price nearly four times its $31 IPO price. Listed on the Nasdaq, CRCL pumped as high as $138.57 on Monday.

After hitting the public market last week, the stock was initially halted multiple times on its first day of trading, jumping to more than three times its IPO price in a matter of minutes.

That debut exceeded the initial performance of major publicly traded tech companies like Meta, Robinhood, and Airbnb upon their respective listings.

The IPO, which raised $1.1 billion for the firm and early shareholders, accelerates a trend of crypto companies going public. In May, trading platform eToro made its debut on public markets. Prior to that, Bitcoin rewards company Fold went public as well. 

Neither, though, saw as much success upon debut as shares of CRCL, which scored a major victory when compared to the initial listings of other crypto-focused companies, in terms of share price surge after offering.

However, another prominent crypto firm may join the race soon, with New York-based exchange Gemini recently filing for its own IPO. 

Circle, now valued around $28.34 billion, sought to go public as early as 2022. But plans to go public via a merger with a SPAC fell through at the time. 

Edited by Andrew Hayward

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Uber Once Again Says It’s Considering Crypto (USDC, USDT) Years After Mulling BTC Payments

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Uber CEO Dara Khosrowshahi said the ride-hailing giant is exploring the use of crypto as a payment method, which marks the third time the company has made the claim since 2021.

Speaking Thursday at the Bloomberg Tech conference in San Francisco, Khosrowshahi said the company is in the “study phase” of evaluating stablecoins for operational use.

“I think stablecoins are one of the more interesting instantiations of crypto that have a practical benefit beyond being a store of value,” Khosrowshahi said.

Uber was an early member of the Diem Association (formerly Libra), joining in 2019 to support Meta’s now-defunct stablecoin initiative aimed at reshaping global payments.

“You can have your opinions on Bitcoin, it’s a proven commodity, and people differ on where it’s going. But stablecoins seems quite promising, especially for global companies moving money around internationally,” Khosrowshahi continued on Thursday. “That’s super interesting to us, and we’re definitely going to take a look.”

The remarks echo what Khosrowshahi told CNBC in September 2021, when he said Uber would “look into” accepting BTC and other cryptocurrencies as payment.

At the time, he dismissed any plans to put crypto on the company’s balance sheet, saying, “We are going to keep our cash safe.”

Later, in February 2022, Khosrowshahi told Bloomberg that the company would “absolutely” accept cryptocurrencies as a form of payment at “some point” in the future, but emphasized that the time wasn’t right yet.

“We’re having conversations all the time,” Khosrowshahi said at the time. “As the exchange mechanism becomes less expensive and becomes more environmentally friendly, I think you will see us leaning into crypto a little bit more.”

When he made crypto-related comments in 2021, BTC traded flat for the next three months.

However, his February 2022 comments came weeks before the beginning of an industry-shaking major market correction, which kicked off later that spring.



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Circle’s USDC Likely to Remain DeFi’s Go-To Stablecoin: Compass Point

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In brief

  • Compass Point analysts believe that USDC’s DeFi-centric market share is unlikely to wane as Wall Street firms enter the space.
  • USDC relies on proprietary tech that makes it easier to move assets between networks, while also casting a wider net than most issuers can.
  • USDC’s concentration in DeFi applications could have drawbacks, however, including a sensitivity to market conditions that could affect company financials.

Stablecoin legislation may unlock a slew of new competitors for Circle and its USDC stablecoin in the U.S., but in the realm of decentralized finance, or DeFi, a serious rival is unlikely to emerge anytime soon, according to analysts at investment bank Compass Point.

Although Tether’s USDT is king in emerging markets, Circle’s USDC stablecoin has a dominant presence across the crypto industry’s growing number of decentralized exchanges, lending protocols, and other DeFi settings, analyst Ed Engel and Joe Flynn wrote in a Wednesday note.

Circle was set to debut on the New York Stock Exchange on Thursday, targeting a $6.9 billion valuation, based on an initial public offering at $31 per share. A distinct advantage supporting that valuation, Compass analysts wrote, is USDC’s widespread use in DeFi.

“USDC is the most traded asset on decentralized changes,” they wrote. “In fact, across most DeFi applications, USDC is the most commonly used stablecoin.”

Stablecoins are digital assets pegged to the price of a fiat currency, such as the U.S. dollar. Within the context of crypto, traders often use them as a way to lock in gains or post collateral for loans; however, their use has grown in fields like payments and remittances. 



Within the past year, trading volumes on decentralized exchanges have increased relative to centralized exchanges, accounting for 26% of daily trading volumes earlier this month, or $14 billion, from 8% a year ago, according to crypto data provider Messari.

DeFi activity has become concentrated on networks like Ethereum and Solana, but Circle issues USDC across at least 40 different networks, according to Messari. To achieve this, Compass Point analysts wrote that “Circle has programmed a bespoke version” of the stablecoin across many chains, leveraging proprietary tech. 

The feature allows users to swap USDC across chains with limited costs while avoiding hacking risks associated with so-called bridges, they added. Bridges often work by holding a token in reserve on one network, while issuing an equivalent on another, making them a go-to target for bad actors because they often hold a large amount of funds in one place on-chain.

The analysts noted that PayPal’s PYUSD stablecoin had a buzzy debut last year but failed to gain traction. The company tried to grow PYUSD’s market share by offering “unsustainable yields on DeFi protocols,” but its supply remains below $1 billion to this day.

Even as DeFi’s dominant stablecoin, USDC faces drawbacks, including the sensitivity of the stablecoin’s supply to market conditions, the analysts wrote. 

Circle’s income is largely derived from yield-bearing assets like U.S. Treasuries backing its stablecoin, meaning a drawdown in USDC’s supply could adversely affect the company’s financials. Because more than a quarter of USDC’s supply is in DeFi applications, the overall health of the altcoin market is key to sustaining current cash flows, the analysts added.

“When altcoins rally, DeFi yields typically increase, leading to more demand for USDC,” they wrote. “However, lagging altcoin prices could slow USDC growth, even after stablecoin legislation passes.”

Edited by James Rubin

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