Circle Internet Group (CRCL) perpetual market

Circle Internet Group is the financial technology company behind USDC, one of the world's largest dollar-backed stablecoins. Founded in 2013, Circle issues USDC as a token pegged one-to-one to the US dollar and backed by reserves held in cash and short-term US Treasuries, positioning it as a regulated, transparent alternative to rival stablecoins for payments, trading and settlement across many blockchains. Circle earns much of its revenue from the interest on those reserve assets, so its results are sensitive to the level of interest rates and to how much USDC is in circulation. The company became a prominent symbol of stablecoins entering mainstream finance and completed a closely watched public listing in 2025. As regulators around the world move to formalize rules for stablecoins, Circle has emphasized compliance and partnerships with established financial firms, making it a key barometer of the growing role of tokenized dollars in the financial system.