Circle Internet Group experienced a significant 10.7% rise in stock after announcing two new partnerships related to integrating its stablecoin USDC.
USDC Integration with Matera
Circle partnered with Brazilian fintech company Matera to integrate USDC into its Digital Twin platform. This allows banks to hold USDC alongside Brazilian reals and U.S. dollars. Furthermore, Matera will link USDC payments to Pix, Brazil’s instant payment network.
Launch of USDC on World Chain
Circle also launched USDC on the World Chain, a blockchain project led by Sam Altman. World Chain users can now use USDC directly on the platform, enhancing the transfer and exchange of funds across different blockchains.
Impact on Circle's Stock
Following the announcement, Circle's stock, which debuted on the NYSE at $31, surged to nearly $117, equating to an increase of almost 280%. These partnerships highlight Circle's strategy to embed USDC into both traditional banking systems and emerging blockchain platforms.
Circle's partnerships with Matera and World Chain emphasize the company's commitment to integrating USDC into various financial structures, contributing to stock growth and the popularization of digital currencies.
