Circle Stock Surges Following Visa’s USDC Settlement Launch
- Circle stock increased by 10.07%, trading at approximately $83.04.
- Visa allows U.S. partners to settle transactions using Circle’s USDC stablecoin, fully reserved and dollar-backed.
- Initial banks, Cross River Bank and Lead Bank, have begun settling with Visa in USDC on the Solana blockchain.
- The settlement model offers seven-day periods, enhancing liquidity management for institutions.
- Visa’s program achieved an annualized run rate of over $3.5 billion as of November.
Visa’s integration of stablecoins into its payment system marks a significant advancement in regulated payment infrastructure, responding to increasing demand from banking partners.
With the recent developments, Circle is positioned for growth as it expands its USDC reach and enhances its business model following regulatory approvals for a digital currency bank.(Source)
