Circle Internet Group's stock surged 10.7% on Wednesday after it announced two major deals

World Chain, created by OpenAI CEO Sam Altman's Worldcoin project, officially onboarded native USDC on its blockchain.

Circle Internet Group Inc's (NYSE: CRCL) stock soared 10.7% on Wednesday after it announced two major deals - the launch of USDC on World Chain and a partnership with Brazilian fintech Matera.

What Happened: Worldcoin, the brainchild of OpenAI CEO Sam Altman, officially announced the integration of native USDC on its blockchain, known as World Chain.

Previously, users on World Chain were utilizing a bridged version of the stablecoin, but now Circle is directly issuing USDC on the chain, making transactions faster and more efficient.

World stated that nearly 2 million users were already utilizing USDC for purposes like remittances and Mini Apps, which cater to use cases like payments and e-commerce.

Its 27 million verified users accessed the network by scanning their eyes with an Orb device to identify them. In addition, Circle unveiled its Cross-Chain Transfer Protocol, designed to facilitate rapid USDC transfers across various blockchains.

Furthermore, Circle joined forces with Brazil's Matera to provide support for multi-currency bank accounts. Featuring a real-time ledger known as Digital Twin, Matera's technology will empower banks to manage USDC in addition to Brazilian reals and U.S. dollars within a single system.

The platform integrates with Brazil's Pix payment system, enabling nearly instant settlement for credit transfers. Matera CEO Carlos Netto described this collaboration as a “game-changer” for banks and fintechs aiming to scale their operations globally.

How Far Has CRCL Come Since IPO: Circle’s stock, which was listed on June 5 at $31, closed just under $117 on Wednesday, a massive 280% surge since its debut. It dipped slightly in after-hours trading.

The rapid rise of CRCL has also sparked an ETF boom, with several new products launching to capitalize on the surging interest in the company's stock.

World Chain is now live in six U.S. cities after earlier delays due to regulatory hurdles.

The project, which was initially announced in 2020, had been making slow progress in expanding its network due to the more challenging regulatory environment for crypto in the U.S. However, with a more crypto-friendly Trump administration now in place, World is poised to resume its expansion plans.

Top Image: Worldcoin's Orb scans a user's iris to register them on the network. Credit: Worldcoin