New Delhi, June 24 -- While Bitcoin grabs headlines with record-breaking rallies, a little-known crypto company is stealing the spotlight with a surprisingly simple business model. As reported by Gizmodo.com, Circle Internet Group, the firm behind the USDC stablecoin, has seen its stock skyrocket 675% in just eleven trading days since going public on June 5-adding over $42 billion in market value.

The firm now boasts, as per the report, a valuation that rivals Silicon Valley unicorns and AI giants, despite offering no revolutionary tech.

Circle's model is shockingly straightforward, according to a report in Gizmodo.com. Users exchange U. dollars for Circle's digital token, USDC, a stablecoin pegged 1:1 to the dollar. Circle takes those ...