Bernstein says Circle’s growth cycle can continue without the Clarity Act, sees 59% upside

Bernstein analysts project that Circle can maintain its growth trajectory for USDC even in the absence of the Clarity Act, citing a robust rebound in stablecoin supply and expanding transaction volumes. The firm maintains an optimistic outlook, forecasting a 59% upside potential for the company as it solidifies its market position. This growth is driven by increasing demand for stablecoins as a primary settlement layer for digital assets and cross-border payments. By leveraging its existing infrastructure and regulatory compliance, Circle continues to capture significant market share despite the legislative uncertainty surrounding the Clarity Act. The analysis highlights that the fundamental utility of USDC as a bridge between traditional finance and blockchain ecosystems remains the primary catalyst for its adoption. This development underscores the resilience of stablecoin issuers who are successfully scaling operations through organic market demand rather than relying solely on specific regulatory tailwinds. For the broader RWA market, this suggests that stablecoin liquidity will remain a critical foundation for the tokenization of real-world assets.