Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Shares of Circle Are Surging Today

TheMotleyFool

0 0

Why Shares of Circle Are Surging Today: https://g.foolcdn.com/editorial/images/822632/positive-person-5.jpg

Shares of the stablecoin issuer Circle (NYSE: CRCL) traded nearly 8% higher, as of 12:46 p.m. ET today, but had blasted as high as 24% earlier in the day. The move came after Circle announced a strategic partnership with .

Circle issues large stablecoins like USDC and EURC. Stablecoins are digital assets pegged to a commodity or currency. USDC is pegged to the U.S. dollar, while EURC is pegged to the euro. Both stablecoins are pegged on a 1-to-1 basis, meaning that Circle actually has one dollar or one euro to back each stablecoin, so they can easily be redeemed.

Image source: Getty Images.

Source Fool.com