Circle Internet Corp.'s stock surged 5.07% during intraday trading on Friday, reflecting positive market sentiment towards the company's stablecoin business.
The movement appears driven by recent developments expanding the use cases for Circle's USDC stablecoin. Financial technology company Stripe recently introduced a new feature allowing external developers to charge AI agents using USDC, directly integrating Circle's stablecoin into the growing artificial intelligence ecosystem.
Additionally, Circle is now partnering with prediction market platform Polymarket, where a form of USDC has been used as collateral. Analysts suggest that more applications for stablecoins like these partnerships could create a tailwind for Circle's business, offsetting broader cryptocurrency market headwinds.
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