Key Takeaways
- Circle’s public debut and the passing of a U.S. stablecoin bill have ignited investor interest in stablecoin-related stocks.
- Stablecoin stocks offer indirect exposure to digital dollar adoption by investing in companies that issue, support, or benefit from stablecoin use.
- Some of the top stablecoin stocks include Circle (CRCL), Coinbase (COIN), Paxos (PXOS), Robinhood (HOOD), and Stellar-related vehicles.
- With future adoption on the way, these companies are poised to capture value through trading volume, blockchain adoption, and real-world asset tokenization.
Circle’s blockbuster stock price debut has ignited a surge of interest across crypto markets and stablecoins. Following the Senate’s recent passing of the U.S. stablecoin bill, Circle’s market cap surged past $62 billion, surpassing that of its USDC stablecoin. This comes 12 days after the company went public. Consequently, investors are now rushing to identify other stablecoin stocks with similar upside potential.
As stablecoins become increasingly regulated and integrated into global finance, traditional investors are looking for exposure through equity markets. In this article, we’ll explore some of the top stablecoin stocks in crypto.
5 Stablecoin Stocks to Know About
Stablecoin stocks offer a different kind of exposure than stablecoins. Rather than simply holding a 1:1 dollar-pegged token, investors are funding the infrastructure, adoption, and long-term revenue potential of the companies behind or integrated with stablecoins. Certain companies are already a step ahead of the curve. Some of them are issuers of stablecoins, while others have a more indirect approach to this new market.
5. PayPal – PayPal Holdings Inc. (PYPL)
- CEO: Alex Chriss
- Location: San Jose, CA / Global
- Business: Digital payments, e-commerce infrastructure, PYUSD stablecoin issuer
- Market Cap: $70B (as of June 2025)
- Stablecoin Ties: Launched its own stablecoin
PayPal made headlines in 2023 by launching its own stablecoin, PYUSD, becoming the first major U.S. fintech to issue a dollar-backed digital asset. It issued the stablecoin in partnership with regulated trust company Paxos. As a result, PYUSD is fully backed by U.S. dollar deposits and short-term treasuries. Designed for digital payments, Web3 applications, and peer-to-peer transfers, PYUSD is integrated directly into PayPal and Venmo wallets.
This move signaled PayPal’s broader strategy to own its digital dollar rails rather than rely on third-party stablecoins. If PYUSD adoption continues to grow across e-commerce and crypto platforms, investors in PYPL can gain exposure to a blend of fintech scale and blockchain-native functionality.
Lastly, PayPal’s global user base of over 400 million gives it a distribution advantage that could make PYUSD one of the most widely used stablecoins in the world.
4. Robinhood – Robinhood Markets Inc. (HOOD)
- CEO: Vlad Tenev
- Location: Menlo Park, CA
- Business: Retail brokerage, crypto trading, wallets
- Market Cap: $70 billion (as of June 2025)
- Stablecoin Ties: Acquired Bitstamp (2025)
While Robinhood isn’t a stablecoin issuer itself, its $200M acquisition of Bitstamp in 2025 marked a massive move into the stablecoin economy. Bitstamp, one of the oldest operating crypto exchanges in Europe, brings with it deep liquidity in stablecoin trading pairs, on-chain payment infrastructure, and a compliant regulatory presence across major jurisdictions. Consequently, this instantly gave Robinhood a firmer foothold in global crypto markets.
Robinhood’s relevance to stablecoins stems from its growing role as a Web3 financial gateway. In addition, its crypto platform supports all major stablecoins including USDC, USDT, and PYUSD, which are widely used by its user base for trading, yield, and transfers. Bitstamp’s infrastructure is now being folded into Robinhood’s backend, enabling cross-border payments and stablecoin-based remittance tools for users across the U.S. and Europe.
Although Robinhood doesn’t directly mint stablecoins, the HOOD stock provides exposure to the stablecoin sector through increased trading volumes, wallet activity, and DeFi-friendly product features.
3. Fiserv – Fiserv Inc. (FISV)
- CEO: Frank Bisignano
- Location: Brookfield, Wisconsin, USA
- Business: Financial technology and payment infrastructure
- Market Cap: $96 billion (as of June 2025)
- Stablecoin Ties: Set to create its own stablecoin and stablecoin infrastructure
Fiserv is one of the world’s largest fintech and payments infrastructure providers, powering transaction systems for banks, merchants, and fintech companies across the globe. Known for handling backend payment rails, merchant acquiring, and core banking software, Fiserv is also stepping into the digital currency space.
In 2025, the company announced plans to launch a U.S. dollar-pegged stablecoin in collaboration with select partners. Consequently, this initiative aims to streamline settlement processes for merchants and enable real-time cross-border transactions using blockchain rails.
Fiserv is creating its own stablecoin and constructing the rails for stablecoin usage in traditional finance. Financial institutions partnering with Fiserv will be able to custody stablecoins, execute P2P transfers, and integrate crypto payment options seamlessly. In other words, FISV serves as a bridge between legacy finance and blockchain, giving investors indirect exposure to the growing stablecoin economy.
2. Coinbase – Coinbase Global Inc. (COIN)
- CEO: Brian Armstrong
- Location: San Francisco, CA
- Business: Crypto exchange, wallet infrastructure, developer tools
- Market Cap: $84 billion (as of June 2025)
- Stablecoin Ties: Founding partner of USDC with Circle
Coinbase is a global leader within the crypto ecosystem. Headquartered in San Francisco and led by CEO Brian Armstrong, the company has been instrumental in onboarding millions of users into digital assets through its streamlined platform. It offers a full stack of crypto services, from trading and custody to developer APIs and institutional-grade asset management.
When it comes to stablecoins, Coinbase plays a central role. It is the co-creator of USDC alongside Circle, and it has an equity stake in Circle. In addition, Coinbase acts as a major liquidity provider for USDC, USDT, and PYUSD, supporting their trading across spot and derivatives markets. Furthermore, the company integrates USDC deeply into its ecosystem, using it for staking rewards, on-chain payments, and cross-border transfers.
Coinbase also earns interest income from customer-held USDC, effectively turning stablecoin deposits into a revenue stream. Finally, its institutional arm offers USDC settlement rails for hedge funds and fintech clients, and its commerce product accepts stablecoin payments globally.
1. Circle – Circle Holdings (CRCL)
- CEO: Jeremy Allaire
- Location: Boston, MA
- Business: USDC issuer, fintech infrastructure, treasury services
- Market Cap: $63 billion (as of June 2025)
- Subsidiaries/Partners: Coinbase (founding partner), BlackRock, Visa
Circle is the fintech powerhouse behind USDC, the second-largest stablecoin in the world by market capitalization, trailing only Tether (USDT). Headquartered in Boston and co-founded by Jeremy Allaire and Sean Neville, Circle offers a suite of products. These span stablecoin issuance, blockchain-native treasury services, and global crypto payment rails.
The company has become a go-to infrastructure provider for fintech apps, centralized exchanges, and institutions looking to integrate digital dollars into their services. After years of operating as a high-profile private company and briefly attempting a SPAC merger in 2022, Circle finally went public in 2025 under the ticker CRCL. The U.S. Senate’s landmark stablecoin bill made it possible. The legislation gave Circle the regulatory clarity it needed to debut on the public markets with confidence. Investors responded with enthusiasm, driving a blockbuster stock price surge in the weeks following the IPO.
Circle is the official issuer of USDC, which is fully backed by cash and short-term U.S. Treasuries, and operates under transparent audit standards and licensed frameworks. Furthermore, USDC is deeply integrated across the decentralized finance (DeFi) ecosystem, centralized finance platforms, and cross-border payment solutions like Visa and MoneyGram.
Stablecoins vs Stablecoin Stock – What’s the Difference?
The two terms, stablecoins and stablecoin stocks, are often mentioned together, but they serve fundamentally different purposes. Stablecoins are digital assets that maintain price parity with fiat currencies (like USD or EUR). On the other hand, stablecoin stocks are equity shares in companies that issue or support these tokens.
Stablecoins are stored in crypto wallets and used in payments, DeFi, and remittances. What makes them different is that they are not meant to increase in value. On the other hand, stablecoin stocks live in traditional brokerage accounts and can appreciate based on the company’s business success, market adoption, or dividends. The key differences lie in custody, volatility, utility, and risk exposure, which we break down in the table below for clarity.
| Asset Type | Stablecoins | Stablecoin Stocks |
|---|---|---|
| Definition | Tokenized digital assets pegged to fiat currencies | Equity shares of companies involved in stablecoin issuance or adoption |
| Custody | Held in crypto wallets (self or custodial) | Held in brokerage or stock trading accounts |
| Growth Mechanism | Pegged, not designed for appreciation | Can appreciate with company performance and adoption |
| Risk Exposure | Peg stability, platform risk, depegging | Business risk, regulation, competitive landscape |
| Utility | Payments, DeFi, savings, remittance | Investment, dividend (where applicable), market exposure |
| Volatility | Low (intended to be 1:1 with fiat) | Medium to high, stock market-linked |
If your goal is financial stability and digital dollar access, stablecoins are the tool. However, if you’re looking to benefit from stablecoin adoption as a market trend, stablecoin stocks might provide growth exposure.
Closing Thoughts
The rise of stablecoins has redefined digital payments and programmable money. Stablecoins are a new frontier for equity investors, and stablecoin companies are already shaping how money moves. Finally, for investors looking to tap into the next chapter of digital currency adoption, stablecoin stocks offer a compelling blend of regulatory momentum, technological growth, and market upside.
