When stablecoin demand is gathering steam, several investors have jumped into putting their wealth into this crypto niche. As the demand escalates, Bernstein, an investment research and brokerage firm, has taken a promising approach toward stablecoins.
In a research note, Bernstein noted that investors can earn profit from stablecoin growth and agentic payments through stablecoin issuer Circle and crypto platform Coinbase.
Circle, Coinbase push stablecoin trend
The research platform came up with unique insights, calling Circle and Coinbase as the ‘best proxies’, meaning these crypto firms are the top ways to invest in when considering stablecoin growth.
Bernstein’s research team expands its findings this way: instead of buying Circle’s USDC stablecoin, being involved in Circle’s business, or owning Coinbase stocks would help investors receive indirect benefits from stablecoin growth.
Agentic payments in stablecoin are a growth booster
The team further connects this stablecoin growth to the exploding agentic payments in the stablecoin sector. Agentic payments or automated payment systems enhance smooth stablecoin payments and are gaining good momentum.
A report by Boston Consulting Group underscores that agentic AI and stablecoins are reshaping the global payments ecosystem, signaling that this is not simply a trend, but a momentum well-praised by several institutional investors.
As agentic payments increase, stalecoins are now seeing increased demand, reported Bernstein.
Why Bernstein sees Circle and Coinbase as the ‘best proxies’
For many of you, the answer to this question might already be on your mind. Circle is one of the key stablecoin issuers like Tether. The firm’s revenue is stable and directly linked to its USDC usage.
If you use USDC in payments or agentic systems, or DeFi, Circle earns transaction fees. And, investing in Circle depicts betting on stablecoin adoption.
Meanwhile, Coinbase, a leading crypto exchange, allows users to buy, sell, and hold USDC and other crypto assets. The platforms let big clients keep their stablecoins within their custody services. When there is more usage of USDC, trading volume spikes, and hence, Coinbase earns more transaction fees.
Now, while coming back to the agentic payments, when automated stablecoin payments increase, the volume of USDC increases, positively impacting the transaction. This further boosts revenue and trading fees for both Coinbase and Circle. In fact, eventually, all this growth reinforces the stock or business value of Coinbase and Circle.
And that’s why analysts at Bernstein are optimistic about these two proxy firms, rather than focusing on platforms that are exposed to volatile cryptocurrencies.
Stablecoin growth is going up incredibly
Since 2025, the crypto industry has been witnessing announcements, partnerships, new launches, and guess what, most of them related to stablecoins and payment gateways. Along that optimistic climb comes the increased application of AI agents to stablecoin payments.
Last month, in a pilot stage, payment processor Stripe rolled out a new feature where AI agents can pay automatically using USDC stablecoin, backed by the x402 protocol.
Now, the total stablecoin market cap has hit $316.907 billion, meaning the total value of all stablecoins in circulation has peaked to that level. Besides Circle, Tether’s growth cannot be left unnoticed. In its Q4 2025 report, the stablecoin issuer has showcased record growth in its USDT stablecoin, followed by strong reserves, user base, and market cap.
