Circle Internet shares have staged a steep rally following the latest quarterly figures. The CEO now sees his company’s potential increasingly recognized by Wall Street.
• Circle Internet CEO Jeremy Allaire sees Wall Street’s growing understanding of the business model
• USDC in circulation reached a value of $75.3 billion at the end of 2025
• Bernstein analyst Chhugani confirmed a price target of $190
Allaire: “Wall Street is starting to understand us”
Circle Internet founder and CEO Jeremy Allaire has attributed the recent rally in Circle stock to investors’ growing understanding of the business model. Speaking to Yahoo Finance at the Economic Club of New York in mid-March, Allaire said investors are increasingly understanding that Circle plays a central role in reshaping the global financial system and is not merely dependent on crypto adoption.
At the time of the interview, Circle shares were trading at $132.31 and had gained around 115 percent in the previous four weeks. The price was more than four times higher than the original IPO price from June 2025. Circle shares are currently listed on the NYSE at $126.64 (as of March 23, 2026).
The price development was underpinned by strong business figures. As shown in Circle’s official quarterly statement dated February 25, 2026, revenue including interest income increased to $770 million in the fourth quarter of 2025, an increase of 77 percent year-on-year. Adjusted EBITDA increased by 412 percent. The stablecoin USDC reached a circulation of 75.3 billion US dollars at the end of 2025, an increase of 72 percent. Circle derives much of its revenue from interest income on the short-term U.S. Treasury bonds that back USDC.
Bernstein sees further upside potential
Bernstein analyst Gautam Chhugani reiterated his Buy rating on Circle stock with a price target of $190 on March 18, 2026, Yahoo Finance reports. Chhugani noted that Circle shares are increasingly decoupling from the general crypto price development.
In a detailed analysis from March 10, 2026, which CoinDesk reported on, Bernstein had already supported this thesis in detail. According to this, USDC in circulation was near its record high of $78 billion at the time, even though Bitcoin and the broader crypto market were trading well below their highs. According to Bernstein, the total market capitalization of US dollar-backed stablecoins remained stable at around US$270 billion despite the crypto bear market.
According to CoinDesk, Bernstein identified payment transactions in particular as a growth driver. Adjusted transaction activity for stablecoins increased by over 90 percent year-on-year. Visa now supports more than 130 stablecoin-linked cards in 50 countries with an annualized processing volume of around $4.6 billion. According to Chhugani, growth in business customer payments was 131 percent year-on-year, with stablecoin-based card payments now accounting for 24 percent of the recorded payment volume.
New partnerships and a look at AI-driven payments
Circle has entered into several strategic partnerships in recent months. According to the quarterly statement, Visa announced that US issuers and acceptance points will be able to settle fully via USDC with Visa, including outside of normal banking hours. Circle entered into a multi-year agreement with TurboTax owner Intuit to integrate USDC into its platform. In fall 2025, the company also introduced Arc, its own Layer 1 blockchain.
The Circle Payments Network, which allows institutions to send USDC across borders and convert it into local currencies, included approximately 55 enrolled financial institutions with an annualized volume of $5.7 billion as of February 20, 2026, according to the quarterly statement. A further 74 institutions were in the review process. According to CoinDesk, Bernstein also highlighted a possible new growth area: AI-driven micropayments between autonomous software agents, for which stablecoins could serve as a natural payment infrastructure.
Dominik Maier, Benedict Kurschat, editorial team finanzen.net
By the way: Circle Internet Group and other US stocks can even be traded on finanzen.net ZERO until 11 p.m. (without order fees, plus spreads). Open a depot now for free and secure a new customer bonus!
Selected leverage products on Circle Internet Group
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on Circle Internet Group
The leverage must be between 2 and 20
Advertising
