Circle shifting from USDC issuer to integrated infrastructure provider, says Tiger Research

Circle is accelerating its shift from being a simple stablecoin issuer to an integrated infrastructure provider for the digital asset industry, according to a report from Asian Web3 research and consulting firm Tiger Research. The report, titled "Circle Stock Analysis: 2026, The Beginning of Full-Scale Vertical Integration," states that the company's first-quarter performance marked a key turning point in this paradigm shift. Tiger Research explained that Circle's future business will revolve around three core pillars: maximizing USDC margins and circulation, launching its own Layer 1 blockchain called 'Ark,' and gaining a first-mover advantage in AI payments. "Currently, 94% of Circle's total revenue relies on interest income from its reserves, and it is now pushing to transform its structure to generate profits centered on its own platform," the report added.