Bernstein is optimistic about Circle with a 70% increase! The target price is set at $190, with a positive outlook on stablecoins as AI and payment infrastructure.

Wall Street investment firm Bernstein releases its latest report, reaffirming its bullish outlook on USDC issuer Circle and setting a target price of $190, indicating approximately 70% upside potential. Analysts point out that stablecoins are accelerating in adoption for cross-border payments and future AI agent applications, positioning Circle to become the biggest winner in the next-generation internet financial infrastructure.
(Background: Circle, Ripple, and Morgan Stanley are all competing: Why are “crypto custody licenses” the true drivers of mainstream adoption?)
(Additional context: Mizuho Bank raises Circle’s target price to $100: Rising oil prices due to US-Iran tensions, Fed delaying rate cuts)

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• Stablecoins decouple from crypto bull/bear markets, fueling payment demand
• Cross-border settlement and Visa network deployment
• Targeting the AI economy: payment channels for robots

As stablecoin applications gradually move beyond simple crypto trading functions, Wall Street giants are shifting their focus to the long-term value of this sector. According to a report by The Block, renowned investment firm Bernstein’s analysts strongly reaffirm their positive stance on Circle (stock ticker: CRCL) in their latest Tuesday report.

Bernstein maintains a “buy” rating on Circle and sets a high target price of $190. Given that the stock closed at $111.84 on Monday after a 9.74% surge, this implies about 70% upside potential. Analysts emphasize that stablecoins are accelerating in adoption among consumers, businesses, and even future AI agents.

Stablecoins decouple from crypto markets, boosting payment demand

The report notes that the adoption rate of stablecoins has shown strong resilience, no longer entirely dependent on crypto market sentiment and volatility. Although Bitcoin remains below its all-time high, USDC’s circulation has rebounded strongly from previous lows, reaching approximately $78 billion, setting a new high; meanwhile, the leading USDT supply is around $184 billion.

In practical application data, global stablecoin transaction volume is projected to reach an astonishing $55 trillion in 2025, a 98% increase from the previous year. Even excluding bots and high-frequency trading, adjusted actual transaction volume remains at $11 trillion, with a 91% annual growth rate. Of this, pure payment activities contribute about $37.5 billion (up 76% annually), especially with “consumer-to-business (C2B)” payments growing at 131%, indicating stablecoins are gradually becoming an indispensable part of global transaction activity.

Cross-border settlement and Visa network deployment

In the consumer payment space, integrating stablecoin networks with traditional credit card systems has become the most successful model. Bernstein mentions that payment giant Visa currently supports over 130 stablecoin-linked credit cards across 50 countries worldwide, with an annualized settlement volume of about $4.6 billion.

Meanwhile, Circle’s actively expanding “Circle Payment Network” has also made significant progress. This network allows financial institutions and fintech platforms to send USDC and convert it into local fiat currencies through compliant partners. By February 2026, the network covers key corridors in the EU, Singapore, India, the Philippines, and the US, attracting 55 institutions with an annualized transaction volume of $5.7 billion.

Targeting the AI economy: payment channels for robots

Beyond traditional cross-border payments, Bernstein is also looking toward the AI sector. Analysts predict that as AI agent technology matures, demand for micro-payments between machines (M2M) will explode, such as automated API payment fees or purchasing digital services. Stablecoins are seen as the ideal micro-currency for supporting this automated economy.

Based on its solid compliance standing, extensive exchange partnerships, and expanding global payment network, Bernstein firmly believes Circle will be the ultimate winner in this long-term race and is poised to become the core provider of next-generation internet financial transmission.