The collapse on both Wall Street and the crypto markets did not slow Circle’s relentless rise. Shares of the stablecoin issuer have more than doubled since the start of February, and Bernstein analysts expect further gains as stablecoins expand beyond speculative crypto use cases.
Technology is already moving deeper into traditional finance. UK insurance giant Aon recently tested stablecoin payments for insurance premiums with Coinbase and Paxos, a move that could make cross-border payments faster and more efficient.
Elsewhere, Bitcoin (BTC) miner Canaan is taking the opposite approach to treasury management, increasing its BTC holdings even as many competitors sell off. And in traditional finance, Wells Fargo has filed a trademark for crypto-related services, suggesting that big banks are still quietly preparing for deeper involvement in digital assets.
Circle shares are growing on stablecoin winds
Shares of stablecoin issuer Circle are surging in 2026 as Wall Street warms to the digital dollar’s long history of growth. Bernstein analysts recently reiterated an “Outperform” rating on the stock and set a price target of $190 — about 60% above current levels.
Circle’s stock price has already more than doubled since early February, gaining nearly 49%, outperforming both the S&P 500 and the Nasdaq 100 over the same period.
Bernstein’s outstanding vision is to accelerate stablecoin adoption across payments, financial infrastructure and onchain settlements. As the issuer of USDC (USDC), the world’s second largest USD-denominated stablecoin, Circle is increasingly seen as a key beneficiary of the industry’s move into mainstream finance.
Canaan increases Bitcoin reserves while other miners sell
Bitcoin miner Canaan is expanding its BTC hoard amid a bearish market, while many rival mining companies are reducing their holdings.
The company mined 86 BTC in February, increasing its total Bitcoin holdings to 1,793 BTC. Canaan also reported holding 3,952 Ether (ETH), bringing its total crypto holdings to a record high.
The accumulation trend is in contrast to most of the mining sector. Several publicly traded miners have sold large chunks of their Bitcoin holdings over the past few months as tighter margins and the after-hours economy put pressure on balance sheets.
Meanwhile, Canaan continues to expand its mining operations, including operations in Texas – one of the largest mining centers in the United States.
Aon pilots stablecoin payments for insurance premiums
Global insurance broker Aon is exploring the use of stablecoins to calculate insurance premiums, working with crypto companies Paxos and Coinbase on the initiative.
The goal is to streamline cross-border payments, which often involve multiple banks, currency conversions, and settlement delays. Stablecoins can allow insurers and customers to transfer funds faster, reducing costs and processing time.
For the insurance industry, faster settlements can simplify premium collection, improve cash flow management and reduce the administrative work associated with international payments. It can also make it easier to manage large cross-border policies and reinsurance transactions.
The pilot reflects a broader trend in the use of stablecoins beyond crypto trading into real financial use cases, particularly in areas where global payments remain slow and expensive.
Wells Fargo registers a trademark for cryptographic services
US banking giant Wells Fargo has filed a US trademark application for “WFUSD”, hinting at possible plans to expand deeper into crypto services.
The offering includes a number of blockchain-related offerings, including crypto trading, payments, digital wallet services, and software for storage and maintenance. It also refers to financial services built on distributed ledger technology.
The brand is important because, according to S&P Global Market Intelligence, Wells Fargo is the fourth-largest bank in the U.S. with approximately $1.95 trillion in assets in Q3 2025.
Trademark proposals do not necessarily guarantee product launch, but they often indicate areas that companies are exploring. In this case, the scale suggests that Wells Fargo may value cryptographic payments or tokenized dollar products under the name WFUSD.
Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered straight to your inbox every Thursday.
