The crypto firm Circle went public in early June. It took very few days to achieve a rise of 652%, according to its latest close. The speed and strength of the rally make it clear that the market supports this company. But the all-time highs of Bitcoin have nothing to do with its performance. Circle has its own stablecoins and is positioning itself as the winner in this market, which is not limited to crypto but to the business of money and payments.
Stablecoins or stable currencies are cryptocurrencies linked to another fiat currency. Circle has two of its own stablecoins, USDC and EURC, issued by itself. Each USDC is equivalent to one dollar and each EURC is equivalent to one euro. Each token or stablecoin is backed 1:1 by each of those currencies. That is to say, it is like traditional fiat money, but with the technology of cryptos, blockchain.
