Circle Internet (CRCL) Climbs 16% on New Stablecoins Partnership

We recently published 10 Stocks With Double-Digit Upsides. Circle Internet Group (NYSE:CRCL) is one of the top performers on Thursday.

Circle Internet ended two straight days of losses on Thursday, jumping 16.03 percent to close at $149.72 apiece as investors repositioned portfolios after inking a partnership agreement with Deutsche Börse Group for the use of its stablecoins in the latter’s platform.

In a statement, Circle Internet Group (NYSE:CRCL) said the partnership would cover the listing and trading of its USDC and EURC stablecoins on Deutsche Börse’s digital exchange 3DX and Crypto Finance.

In addition, the collaboration will enable institutional-grade digital asset custody via Deutsche Börse Group’s post-trade business Clearstream, leveraging the German entity of Crypto Finance as sub-custodian.

“We’re planning to advance the use of regulated stablecoins across Europe’s market infrastructure—reducing settlement risk, lowering costs, and improving efficiency for banks, asset managers, and the wider market. As clear rules take hold across Europe, aligning our regulated stablecoins, EURC and USDC, with trusted venues will unlock new products and streamline workflows across trading, settlement, and custody,” said Circle Internet Group (NYSE:CRCL) Chairman and CEO Jeremy Allaire.

Circle Internet Group (NYSE:CRCL) was the first major global issuer to achieve compliance with the EU’s Markets in Crypto Assets Regulation (MiCAR), the world’s first comprehensive regulatory framework for cryptocurrency assets.

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Disclosure: None. This article is originally published at Insider Monkey.