Circle shares slide on June 30 after 140+ fintech coalition unveils Open USD stablecoin
AI Market Summary
Circle's shares fell after reports that a 140+ member fintech consortium (including Visa, Mastercard, Stripe, BlackRock, Coinbase and others) will launch Open USD, a rival dollar stablecoin embedded directly into major payment rails. The proposed near-full reserve-yield rebate to adopters undercuts USDC's economics, pressuring Circle's interest-income-driven profitability and raising the risk of enterprise adoption shifting away from USDC in the near term.
Impact level
● High
Affected assets
NCSKCRCL2USD/USDT-0.94%
AI Insight · NCSKCRCL2USD/USDTAI Insight
▼ Bearish
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Circle (CRCL) shares fell sharply on June 30 after more than 140 fintech firms jointly announced plans to launch a U.S. dollar stablecoin called Open USD (OUSD), with members including Visa, Mastercard, Stripe, BlackRock, Coinbase, Ripple and Standard Chartered. The group said OUSD will be embedded directly into major payment networks and will return nearly all reserve yield to adopters, a model that could challenge USDC’s position and Circle’s core profit engine. CRCL is down more than 50% year to date, and its RSI briefly moved into the 30 range.
