Beyond USDC: Inside Circle’s $22B Infrastructure Playbook for Crypto Builders
Key Takeaways Circle has moved well beyond being a stablecoin company. Its stock trades at a ~98x forward P/E because investors are pricing in a blockchain (Arc), a federal bank charter (Circle National Trust), a payments network processing ~$23B annualized volume, and an AI agent payments stack — not just USDC reserve income. The institutional […]
