Circle Internet Group Stock Climbs To New Highs: What's Going On?

Circle Internet Group Inc CRCL shares are trending on Monday as the stock trades at all-time highs. The company announced a partnership with Fiserv to develop stablecoin-enabled solutions.

What Happened: Circle Internet Group announced a strategic collaboration on Monday to jointly explore and develop stablecoin solutions for financial institutions and merchants inside the Fiserv ecosystem.

The companies will combine Circle’s USDC platform and payments network with Fiserv’s digital banking and payments capabilities to provide access to digital dollar infrastructure, connecting payment use cases to a modern internet-native financial layer.

“As demand for real-time, borderless financial experiences accelerates, this collaboration reflects our commitment to supporting forward-thinking financial institutions,” said Jeremy Allaire, chairman and CEO of Circle.

“Fiserv is a trusted leader in enabling money movement across the financial ecosystem. By integrating with Circle’s infrastructure, Fiserv is positioned to extend the benefits of stablecoin-based payments and open internet finance to thousands of financial institutions.”

Circle shares were moving higher at last check, adding to massive gains since its public debut earlier this month. The company’s shares saw strong gains last week after the Senate passed the GENIUS act, or Guiding and Establishing National Innovation for U.S. Stablecoins Act. The bill will now head to the House of Representatives before it can be sent to President Donald Trump's desk for approval.

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Circle, which founded the USDC stablecoin, raised nearly $1.1 billion in an initial public offering at the beginning of June. The company’s stock opened for trading on the New York Stock Exchange at $69 after pricing its IPO at $31. It has continued to see strong demand in recent weeks.

USDC, which is the second-largest stablecoin, has a market cap of approximately $61.3 billion as of the time of publication. With Circle shares climbing to new highs to start the week, the company now has a market cap of more than $55 billion, according to Benzinga Pro.

CRCL Price Action: Circle shares were up 16.8% at $280.52 at the time of publication Monday, according to Benzinga Pro.

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Photo: PJ McDonnell/Shutterstock.