Investment bank William Blair has rated Circle (CRCL) as an 'outperform' entity, projecting that the market capitalization of its stablecoin, USDC, could reach $150 billion by 2027. The bank highlights Circle's pivotal role in shifting fiat-based B2B cross-border payments to blockchain technology, a market valued at $24 trillion. Circle's infrastructure, including its payment network, is expected to facilitate faster and cheaper transactions, potentially boosting its adjusted EBITDA to over $1 billion. However, the firm notes risks related to the timing of non-crypto commercial applications and regulatory challenges. Coinbase, a significant partner of Circle, is anticipated to gain from Circle's revenue expansion.