Yaël Bizouati-Kennedy
7/10/25
Circle jumps on report of Ant Group adopting its stablecoin
Newly public stablecoin giant Circle was up 4% as the market opened, following a Bloomberg report that Jack Ma-backed Ant Group will use its stablecoin on the Chinese fintech company’s blockchain platform after “the asset becomes compliant in the US,” though no timeline has been set.
The shares gave back most of those gains in early trading, however, and are up roughly 1% as of 11 a.m. ET.
Circle, which had a mammoth IPO earlier this month, issues USDC, a stablecoin pegged to the dollar, which has a $62.56 billion market cap and is the second-largest stablecoin.
Circle, which had a mammoth IPO earlier this month, issues USDC, a stablecoin pegged to the dollar, which has a $62.56 billion market cap and is the second-largest stablecoin.
