Circle’s stock declined as the forthcoming Open USD stablecoin attracted support from more than 100 major organizations. Backers include Coinbase, BlackRock and Visa.
Circle’s stock declined as the forthcoming Open USD stablecoin attracted support from more than 100 major organizations. Backers include Coinbase, BlackRock and Visa.
The development matters because Open USD could add competition to the stablecoin market. Coinbase’s involvement is particularly notable given its role as a key supporter of Circle’s USDC.
Circle’s stock fell as a new stablecoin initiative called Open USD gained backing from more than 100 major supporters, including Coinbase, BlackRock and Visa.
The development matters because Open USD could add competition to the stablecoin market. Coinbase’s involvement is particularly notable given its role as a key supporter of Circle’s USDC.
The breadth of support also places major crypto and traditional finance companies behind the forthcoming stablecoin. BlackRock and Visa join Coinbase among the prominent names associated with the project.
Open USD has not yet launched, but its supporter list gives the initiative significant industry visibility ahead of its debut. The announcement also puts renewed attention on Circle as the company faces the prospect of another well-backed dollar stablecoin entering the market.
Keep exploring
Bitget plans to exit the Japanese market and close all remaining positions by the end of the year. The move adds to ongoing shifts among crypto companies navigating Japan’s regulatory environment.
Read
CoinDesk’s State of Crypto coverage counts down recent developments shaping the crypto policy and market landscape. The report frames these changes as important for how companies and participants navigate the sector.
Read
Strategy said it is holding the dividend on its STRC preferred stock at 12%. The decision keeps the payout unchanged for investors in the company’s yield-focused security.
Read