Citi sets $243 Circle target on stablecoin payment infrastructure opportunity

Citi favors crypto infrastructure companies with lower exposure to token prices and has set a $243 price target for Circle, citing the growth potential of stablecoin payment networks. Investors should look beyond companies tied directly to crypto prices and focus on infrastructure supporting tokenization, payments and high-performance computing, according to Citi. Stablecoins could become a default settlement method for cross-border payments and real-world asset tokenization. In an Oct. 19 CoinDesk interview, Pete Christensen, Citi’s director of digital assets equity research, named Circle as his top pick and said the bank is focusing on companies supporting the convergence of traditional finance…

Source: TokenPost