Circle Internet Financial saw its stock price surge by up to 17% on Friday following two major developments: a “buy” rating from Seaport Global and the U.S. Senate’s passage of a bill outlining regulatory frameworks for dollar-backed cryptocurrencies.
The move serves as a turning point not only for Circle but also for the broader stablecoin market. As the issuer of USD Coin (USDC)—the second-largest stablecoin by market share—Circle appears to be positioned for substantial institutional and retail growth.
Seaport Global Initiates Coverage With ‘Buy’ Rating
The surge in Circle’s stock price was sparked in part by Seaport Global’s bullish outlook. Analyst Jeff Cantwell initiated coverage of stock with a buy rating and set a price target of $235—slightly above Friday’s peak of $233.
In his note to clients, Cantwell emphasized Circle’s long-term potential in the stablecoin sector, stating, “We see Circle as a top-tier crypto ‘disruptor’ with a big chance for the future.” He projects the company’s annual revenue could grow by 25% to 30% over time as adoption rises.
Cantwell added that the global stablecoin market—currently valued around $260 billion—could eventually expand to $2 trillion. This growth would significantly benefit Circle, which has already seen its shares rise over 600% since its public debut earlier this month.
Senate Crypto Bill Boosts Confidence in Stablecoins
This week’s Senate passage of a bill regulating stablecoins has been widely praised by the crypto community and considered a win for both the industry and political supporters like former President Donald Trump. The legislation, which still awaits approval in the House, offers a clearer path for dollar-pegged crypto assets like USDC.
Stablecoin regulation could lead to increased trust and institutional use, a sentiment echoed by Cantwell, who estimates Circle could generate $3.5 billion in revenue in 2025, up from $1.68 billion in 2024.
One standout example of growing confidence: the Trump-linked stablecoin issued by World Liberty Financial has already reached a market cap of nearly $2 billion.
Expanding Payment Capabilities with Strategic Partnerships
Beyond legislation and analyst endorsements, company is actively building its payments ecosystem. In April, the company launched a stablecoin-based international payment network designed to help banks and financial institutions settle cross-border transactions more efficiently.
E-commerce giant Shopify also announced this month that it would begin accepting USDC payments for merchants and consumers worldwide. These developments suggest that Circle could soon challenge established payment networks such as Visa and Mastercard, which have seen stock declines since the Senate vote.
Cantwell believes these moves will give Circle significant momentum in the global digital payments space, stating that the company’s payment infrastructure could “unlock additional growth” beyond the crypto-native audience.
Conclusion: Stock Positioned for Rapid Growth
With regulatory clarity emerging and strong institutional interest, company is rapidly evolving from a stablecoin issuer into a major force in digital payments. The Senate’s crypto bill and Seaport’s optimistic rating signal a new era of opportunity—not only for Circle but for the stablecoin market at large.
As Circle continues expanding its utility through platforms like Shopify and financial institutions, its trajectory may reshape how digital dollars are used across the global economy. For investors and industry watchers alike, Circle is becoming a name to watch closely in the regulated future of crypto finance.
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