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Circle Stock Surges After Stablecoin Bill Clears Senate and Fiserv Tie-Up

Regulatory clarity from the GENIUS Act is boosting investor confidence in USDC, driving plans for a bank-focused FIUSD stablecoin launch later this year.

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Overview

  • Circle’s shares have climbed more than 800% since its $31 IPO on June 5, extending a three-day rally after Monday’s session.
  • The Senate approved the GENIUS Act on June 17, creating a federal framework for stablecoins expected to win House approval and presidential sign-off later this year.
  • On June 23, Circle and Fiserv unveiled a strategic collaboration to develop stablecoin-enabled solutions and aim to issue FIUSD using Circle and Paxos infrastructure by year-end.
  • Circle’s USDC and EURC tokens are backed one-for-one by U.S. dollar and euro reserves, enabling instant, borderless transactions for financial institutions.
  • Seaport Research Partners analyst Jeff Cantwell initiated coverage with a Buy rating and $235 price target, calling Circle a top-tier crypto disruptor poised for further gains.