Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
NEW YORK - Circle Internet Group, Inc. (NYSE: CRCL), a $54.7 billion market cap fintech trading near its 52-week high of $248.88, announced Monday a strategic collaboration with Fiserv, Inc. (NYSE: FI) to develop stablecoin-enabled solutions for financial institutions and merchants. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 18 additional key insights available to subscribers.
The partnership will integrate Circle's stablecoin platform, including its USDC infrastructure and Circle Payments Network, with Fiserv's digital banking and payment capabilities. The initiative aims to provide banks and fintechs using Fiserv's digital asset platform with access to digital dollar infrastructure for enhanced payment experiences and real-time settlement.
Clients adopting these stablecoin-based solutions will gain access to regulated digital dollars through Circle's infrastructure. Fiserv plans to offer capabilities connecting domestic and cross-border payment use cases to an internet-native financial layer, enabling high-speed, low-cost transactions.
"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.
The companies will work together to design solutions utilizing the liquidity, interoperability, and compliance frameworks that support USDC and the Circle platform.
According to the press release statement, the collaboration details will be rolled out in phases and will be subject to applicable regulatory reviews and partner readiness.
Circle is a financial technology firm that issues USDC and EURC stablecoins through its regulated affiliates. Fiserv provides payments and financial services technology solutions globally. According to InvestingPro, Circle maintains a "GREAT" overall financial health score, with particularly strong momentum and growth metrics. Discover comprehensive financial analysis and more exclusive insights with an InvestingPro subscription.
In other recent news, Fiserv announced plans to introduce a new digital asset platform featuring a stablecoin named FIUSD, which will be integrated into the company's existing banking and payments infrastructure by the end of the year. This platform is set to connect with approximately 10,000 financial institution clients and six million merchant locations, leveraging Fiserv's existing technology without additional costs to clients. Fiserv aims to utilize the stablecoin infrastructure from Paxos and Circle Internet Group, with FIUSD being available on the Solana blockchain. The company is also exploring partnerships with PayPal and card networks to expand the use cases for stablecoins. Meanwhile, Seaport Global Securities initiated coverage on Circle Internet Group with a buy rating, citing significant future growth potential in the stablecoin market. The firm projects Circle's annual revenue growth to be between 25%-30%, driven by increasing global adoption of stablecoins like USDC. Additionally, Circle's shares surged following the U.S. Senate's passage of stablecoin legislation, marking a significant regulatory development for the crypto industry. The legislation, known as the GENIUS Act, aims to establish clearer rules for stablecoin issuance and management, potentially boosting the legitimacy of the sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.