A surge in shares of Circle Internet Group Inc., lifted by a wave of optimism about US stablecoins, has investors and market-watchers alike wondering just how much upside could be left in the near-term for the newly publicly-traded company.

Wall Street’s enthusiasm for stocks with exposure to the rapidly growing world of stablecoins continued on Monday, as shares of Fiserv rallied after the financial-technology giant entered the arena.

Fiserv on Monday unveiled plans to launch a stablecoin, joining a growing number of U.S. companies exploring the technology as the crypto asset moves into the mainstream. The announcement comes after the U.