Circle CEO Jeremy Allaire Says the Stablecoin Market Is Going to See Record Growth. What Does That Mean for CRCL Stock?

Circle CEO Jeremy Allaire Says the Stablecoin Market Is Going to See Record Growth. What Does That Mean for CRCL Stock? ties a bullish outlook for stablecoins to the competitive risks facing Circle. The article explains that Circle issues USD Coin (USDC), described as the world’s second-largest stablecoin and widely used in the U.S., and that most revenue comes from reserve interest earned on U.S. dollars and Treasuries backing USDC. It says Circle recently won a U.S. bank charter and that its compliance is meant to appeal to institutional investors. In a CNBC interview, Allaire predicted the overall stablecoin market could grow from about $1 trillion to tens of trillions over the coming years. However, the piece warns Circle’s fortunes are tied to USDC, which may face a new rival later in the year: Open USD (OUSD). OUSD is backed by a coalition of more than 140 financial, tech, and retail giants, including Coinbase, with a partnership tied to a renewal on Aug. 18. Analysts expect Circle revenue to nearly double from $2.75 billion (2025) to $5.25 billion (2028) and adjusted EBITDA from $582 million to $1.31 billion, while Circle shares have fallen nearly 70% in the past 12 months.