Circle Internet Group (NYSE: CRCL), the second-largest issuer of USD stablecoins globally, is positioned for explosive growth over the next few years, as per the emerging consensus of Wall Street analysts, albeit tempered by the newly IPO'ed stock's already-stratospheric valuation. For the benefit of those who might not be aware, Circle backs each minted USDC token with yield-bearing US Treasuries. As such, the vast majority of Circle's revenue comes from the interest income generated by the USDC reserves, which consist almost exclusively of US Treasuries. However, Circle also splits its revenue with Coinbase, which remains its strategic partner for providing […]
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