★Circle, Coinbase seen as ‘best proxies’ for stablecoin upside as agentic payments emerge, Bernstein says

"The emergence of agentic payments, powered by stablecoins like USDC, represents a significant evolution in digital asset utility beyond speculative trading. This shift signals potential for substantial capital flows into compliant, high-liquidity stablecoin ecosystems, impacting market structure by integrating crypto rails into automated financial processes. Institutional investors should monitor these proxies for early indications of mainstream stablecoin adoption and its implications for payment infrastructure."