The stock price of Circle, the issuer of USDC (NYSE: CRCL), rose to $164.7 on the night of the 16th, setting a new all-time high. It had just been listed two weeks ago in an IPO, and it surged again due to progress in the regulation of stablecoins in the U.S. and expectations of major companies entering the cryptocurrency payment space.
Source: Yahoo
The U.S. Senate is scheduled to hold a final vote on the stablecoin regulation bill "GENIUS Act" this Tuesday. The bill mandates full backing of stablecoins by the U.S. dollar and introduces comprehensive regulations that require annual audits for issuers with a market capitalization exceeding $50 billion. The Trump administration's advisory group has expressed support and aims to have the legislation enacted by August.
According to reports on the 16th, US financial giant JP Morgan Chase has filed a trademark application for a new blockchain asset "JPMD", raising speculation about the issuance of its own stablecoin. The trademark application was accepted by the US Patent and Trademark Office last Sunday, and it is intended for use in digital asset trading and payment services.
Furthermore, it was revealed in a report by The Wall Street Journal on the 13th that major U.S. retailers such as Walmart and Amazon are considering issuing their own stablecoins. Multinational companies, including the Expedia Group and airlines, are also said to be discussing similar initiatives, indicating a growing momentum for the adoption of stablecoin payments by large enterprises.
The introduction of stablecoin payment systems by retail companies is expected to enable the reduction of transaction fees by several billion dollars annually by bypassing traditional payment systems. There are also expectations for resolving issues related to card payment exchange fees and payment delays, particularly in improving transaction efficiency with overseas suppliers. As the adoption of stablecoins accelerates, the anticipated influx of funds into Circle, the only publicly listed stablecoin company at present, is believed to be supporting the rise in its stock price.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Circle's stock price hits an all-time high, soaring on expectations of the US stablecoin regulation bill vote and major corporate entries.
The stock price of Circle, the issuer of USDC (NYSE: CRCL), rose to $164.7 on the night of the 16th, setting a new all-time high. It had just been listed two weeks ago in an IPO, and it surged again due to progress in the regulation of stablecoins in the U.S. and expectations of major companies entering the cryptocurrency payment space.
The U.S. Senate is scheduled to hold a final vote on the stablecoin regulation bill "GENIUS Act" this Tuesday. The bill mandates full backing of stablecoins by the U.S. dollar and introduces comprehensive regulations that require annual audits for issuers with a market capitalization exceeding $50 billion. The Trump administration's advisory group has expressed support and aims to have the legislation enacted by August.
According to reports on the 16th, US financial giant JP Morgan Chase has filed a trademark application for a new blockchain asset "JPMD", raising speculation about the issuance of its own stablecoin. The trademark application was accepted by the US Patent and Trademark Office last Sunday, and it is intended for use in digital asset trading and payment services.
Furthermore, it was revealed in a report by The Wall Street Journal on the 13th that major U.S. retailers such as Walmart and Amazon are considering issuing their own stablecoins. Multinational companies, including the Expedia Group and airlines, are also said to be discussing similar initiatives, indicating a growing momentum for the adoption of stablecoin payments by large enterprises.
The introduction of stablecoin payment systems by retail companies is expected to enable the reduction of transaction fees by several billion dollars annually by bypassing traditional payment systems. There are also expectations for resolving issues related to card payment exchange fees and payment delays, particularly in improving transaction efficiency with overseas suppliers. As the adoption of stablecoins accelerates, the anticipated influx of funds into Circle, the only publicly listed stablecoin company at present, is believed to be supporting the rise in its stock price.