Circle Stock Plunges 15% on Open USD Stablecoin Launch by Major Backers
Circle Internet Group (CRCL) shares fell nearly 15-18% after Open Standard unveiled Open USD (OUSD), a stablecoin backed by over 140 companies including Visa, Mastercard, Coinbase, BlackRock, and Stripe. OUSD offers free minting/redemption and shares reserve earnings with partners, directly challenging Circle’s USDC revenue model (99% from reserve interest). Coinbase, which received $908 million from Circle for USDC distribution, joined the rival consortium. Circle retains regulatory standing in the US and Europe, but the launch threatens its key revenue-sharing deal with Coinbase expiring in August.
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Circle Gains OCC Approval to Operate as Trust Bank, Shares Rise 5%
Stablecoin issuer Circle received approval from the U.S. Office of the Comptroller of the Currency (OCC) to operate as a trust bank, named Circle National Trust. The approval allows Circle to directly manage reserves for its USDC stablecoin, which has over $73 billion in circulation, eliminating the need for third-party banks and custodians. Shares of the company rose nearly 5% on the news. The charter does not permit commercial banking activities like taking deposits or making loans. This development reflects a broader trend in the crypto industry as companies shift from financial applications to regulated financial infrastructure. The approval also simplifies regulatory compliance by providing a single national regulator instead of state-by-state rules. The move comes amid increasing competition in the stablecoin space, including the launch of Swift's blockchain consortium and the Open USD (OUSD) stablecoin effort involving major firms like BlackRock, Visa, and Mastercard.
US Top News and AnalysisCircle Internet Group Faces New Stablecoin Rival OUSD; Stock Impact Analyzed
On June 30, 2026, a coalition of over 140 major financial, tech, and retail companies—including Visa, Mastercard, Stripe, BlackRock, Coinbase, Google, and Shopify—announced support for a new stablecoin called Open USD (OUSD). This directly challenges Circle Internet Group's USD Coin (USDC), the second-largest stablecoin. Circle's stock (NYSE: CRCL) fell sharply on the news. OUSD aims to disrupt Circle's business model by sharing reserve income with ecosystem partners, offering decentralized governance, and providing zero-cost minting/redemptions with no volume limits. A key risk is Coinbase's potential non-renewal of its revenue-sharing agreement with Circle, set to expire on August 18, 2026. While analysts project strong growth for Circle through 2028, the existential threat from OUSD introduces significant uncertainty. The article advises investors to wait for Circle's response and the Coinbase decision before buying the stock.
Yahoo FinanceCircle Faces Major Threat from New Stablecoin Open USD Backed by Industry Giants
On June 30, 2026, a coalition of over 140 major financial, tech, and retail companies including Visa, Mastercard, Stripe, BlackRock, Coinbase, Alphabet's Google, and Shopify announced support for a new stablecoin called Open USD (OUSD). This poses a significant competitive threat to Circle Internet Group and its USD Coin (USDC). Circle's stock dropped sharply following the announcement. OUSD differentiates itself by sharing reserve income with ecosystem partners, offering decentralized governance through an independent board, and providing zero-cost minting/redemptions with no volume limits. A major concern for Circle is Coinbase, a founding partner of USDC, signing onto OUSD. Coinbase's revenue-sharing agreement with Circle expires in August 2026, and non-renewal could further hurt Circle. Analysts expect Circle's revenue to nearly double by 2028, but the OUSD threat may lead to revised estimates. The article advises investors to wait for Circle's response and Coinbase's decision before buying.
Yahoo FinanceVisa's Open USD Push Puts Circle's Stablecoin Moat Under Pressure
A 140-member consortium including Visa, Stripe, BlackRock, Alphabet, and Coinbase has launched Open USD, a shared-yield stablecoin that redistributes reserve interest to network partners. This move threatens crypto-native issuers like Circle Internet Group, which generates 99% of revenue from USDC reserve interest. The launch follows the July 2025 GENIUS Act providing regulatory clarity. Circle faces existential margin pressure after Coinbase, which received $908 million in 2024 revenue-sharing, defected to the Open Standard alliance. Visa posted strong earnings ($3.31 EPS, beating estimates) and announced a $20 billion buyback, receiving a Piper Sandler upgrade as capital rotates toward legacy payment networks. The Open USD model eliminates minting and redemption fees, creating a zero-friction, yield-generating asset that renders proprietary stablecoin models uncompetitive.
Yahoo FinanceNew Stablecoin Open USD Challenges Circle's USDC: Market Implications
On June 30, 2026, a consortium of over 140 organizations announced the launch of Open USD, a new dollar-pegged stablecoin aiming to compete with Circle's USDC and Tether. The consortium includes major companies like Visa, Mastercard, BlackRock, Alphabet, and Coinbase. Open USD offers joint governance, revenue-sharing from reserve interest, and free minting/redemptions. Following the announcement, Circle's stock (CRCL) fell 22% in 48 hours before partially recovering. The article analyzes whether Open USD can challenge the dominance of USDC ($73 billion market cap) and Tether ($184 billion), noting Circle's regulatory progress and first-mover advantage as significant barriers. It also questions the stablecoin industry's growth potential and highlights the challenges of coordinating a large consortium.
Yahoo FinanceA Huge New Stablecoin Initiative Could Disrupt the Crypto Market. Here's What You Need to Know.
A coalition of over 140 companies, banks, and financial institutions, including Circle's largest stablecoin distributor, plans to launch a new dollar stablecoin called Open USD (OUSD) on the Solana blockchain. Unlike traditional stablecoins where the issuer keeps interest on reserves, OUSD will pass nearly all interest back to the businesses that mint, hold, and route the token. This threatens incumbents like Circle's USDC ($73.4B market cap) and Tether USD. Circle's stock fell 17% on the news. Major participants include Visa, Mastercard, Stripe, BlackRock, Coinbase, and Ripple. The article also notes potential impacts on Hyperliquid (HYPE) and other tokens, and describes OUSD as a major shift in stablecoin economics.
Yahoo FinanceCRCL Sell-Off Overdone as Circle CEO Addresses Open USD Threat
Circle (CRCL) shares dropped 18% on Tuesday following the announcement of a competing stablecoin, Open USD (OUSD), backed by Coinbase, Visa, and Mastercard. However, analysts at Clear Street view the sell-off as an overreaction, noting that OUSD has yet to prove it can gain real traction. Circle CEO Jeremy Allaire addressed investor concerns, emphasizing USDC's massive network scale, liquidity, and regulatory integration. He stated that Circle and its global ecosystem have built 'the world's most trusted digital dollar infrastructure' and have no plans to slow down. As of Wednesday, CRCL shares recovered slightly to around $64.55, but remain down over 18% in the past six months and 75% below their 52-week high. Clear Street set a 12-month price target of $157, implying a roughly 140% upside. USDC remains the second-largest stablecoin with a $73 billion market cap, behind Tether's $184 billion.
Yahoo FinanceAnalysts Say CRCL Sell-Off Overdone as Circle CEO Addresses Open USD Stablecoin Threat
Circle (CRCL) shares fell 18% on Tuesday after the announcement of Open USD (OUSD), a competing stablecoin backed by Coinbase, Visa, Mastercard, and BlackRock. Analysts at Clear Street argue the sell-off is overdone, noting that OUSD lacks proven traction and resembles the USDG stablecoin which failed to gain market share. Circle CEO Jeremy Allaire responded to investor concerns by emphasizing USDC's massive scale, deep liquidity, and regulatory integration, stating the firm does 'not intend to slow down.' USDC remains the second-largest stablecoin with a $73 billion market cap, behind Tether's $184 billion. CRCL shares recovered 3% on Wednesday to around $64.55, but are down over 75% from their 52-week high of $262.97. Clear Street maintains a $157 price target, implying a 140% upside.
Yahoo FinanceCRCL Stock in Focus as Circle Faces Increasing Stablecoin Competition
Circle (CRCL) shares fell sharply on June 30, 2026, after a Bloomberg report revealed that a coalition of over 140 fintech companies, including Visa, Mastercard, Stripe, BlackRock, Coinbase, Ripple, and Standard Chartered, is launching a rival stablecoin venture called 'Open Standard.' The initiative will issue a dollar-backed token, Open USD (OUSD), which will be integrated directly into the payment rails of major institutional players upon launch. This threatens Circle's core value proposition, as Open USD bypasses existing stablecoin networks and distributes nearly all reserve yield back to adopting firms, unlike Circle which retains most interest revenue. CRCL stock has dropped over 50% from its year-to-date high since mid-May. Despite the threat, Wall Street maintains a 'Moderate Buy' rating with a mean price target of $141, implying 12% upside.
Yahoo FinanceMorning Minute: Major New Stablecoin Launch Shakes Incumbents
Open Standard launched Open USD (OUSD), a new stablecoin backed by over 140 major businesses including Visa, Mastercard, Stripe, BlackRock, Google, Shopify, Coinbase, and Solana. OUSD allows free minting and redemption with no volume caps, distributes reserve earnings to partners, and is governed by a board of partners rather than a single company. Circle's stock (CRCL) fell 18% as the launch threatens its USDC market share. Separately, President Trump's financial disclosure revealed over $1.2 billion in crypto earnings from his memecoin and World Liberty Financial ventures, along with over $50 million in Bitcoin holdings. The disclosure reignites conflict-of-interest concerns and lowered the odds of the CLARITY Act passing to 39%. Citi cut its 12-month Bitcoin price target from $112k to $82k, citing ETF flows, slow regulatory progress, and DAT concerns.
Yahoo FinanceMorning Minute: Major New Stablecoin Launch Shakes Incumbents
The article covers three major developments. First, Open Standard launched Open USD (OUSD), a stablecoin backed by over 140 major firms including Visa, Mastercard, Stripe, BlackRock, and Coinbase. It directly challenges Circle and Tether by allowing free minting/redeeming and sharing reserve yields with partners. Circle's stock (CRCL) dropped 17% on the news. Second, President Trump's annual financial disclosure revealed over $1.2 billion in crypto earnings, including $635 million from his memecoin and $588 million from World Liberty Financial. He also holds over $50 million in Bitcoin. This reignites conflict-of-interest debates and reduces odds of the CLARITY Act passing. Third, Citi cut its 12-month BTC price target from $112k to $82k, citing ETF flows, slow regulatory progress, and DAT concerns.
Yahoo FinanceCircle stock tumbles as rival stablecoin Open USD enters market
Circle (NYSE: CRCL) stock plunged over 16% intraday on June 30, 2026, after a coalition of 140+ companies including Visa, Mastercard, BlackRock, and Coinbase announced the launch of Open USD, a new stablecoin. Open Standard, the firm behind the token, positions it as a lower-cost, more open alternative to existing stablecoins. Circle's USDC is the second-largest stablecoin with a $73.45 billion market cap, trailing Tether's USDT at $184.7 billion. Circle stock has fallen over 43% in the past month and 19% year-to-date. The alliance includes global payment networks, banks, technology firms, and crypto-native players such as Aptos Labs, Solana, and Ripple.
Yahoo FinanceCircle Stock Dives as Coinbase, BlackRock and Visa Back Open USD Stablecoin
On June 30, 2026, Circle (CRCL) stock fell nearly 16% to $63.99 after Coinbase, Visa, Mastercard, Stripe, BlackRock, and over 140 other companies announced the launch of Open USD (OUSD), a new stablecoin designed as shared digital payments infrastructure. The coin is issued by an independent operator called Open Standard, led by former Bridge CEO Zach Abrams, and aims to address industry complaints about high minting fees, issuers pocketing reserve interest, and lack of business input. Open USD will allow free minting and redemption with no volume caps, with reserve earnings distributed to partners. Governance will be handled by a board of partner companies. The backers include payments giants, banks, tech firms, and crypto players. Circle's stock has plunged 39% in the last month. Open USD is expected to launch later this year.
Yahoo FinanceCircle Stock Dives as Major Firms Back Open USD Stablecoin
On June 30, 2026, Circle's stock (CRCL) fell nearly 16% after Coinbase, BlackRock, Visa, Mastercard, Stripe, and over 140 other companies announced support for a new stablecoin called Open USD (OUSD). The coin, launched by Open Standard led by CEO Zach Abrams, aims to address industry complaints about high fees and centralized control, offering free minting and redemption with no volume caps. Governance will be managed by a board of partner companies rather than a single issuer. Circle's shares traded at $63.99, contributing to a 39% decline over the past month. The backer list includes major payments, banking, and technology firms. Open USD is expected to go live later this year, with organizers framing it as neutral digital payments infrastructure akin to the early internet.
Yahoo FinanceStripe, Visa and Over 140 Businesses to Launch Open USD Stablecoin, Challenging Tether and Circle
A consortium of financial giants, including Stripe, Visa, BlackRock, and over 140 other businesses, announced on June 30, 2026, the upcoming launch of a new stablecoin called Open USD (OUSD). The initiative is led by Open Standard, a company whose interim CEO Zach Abrams previously co-founded the stablecoin startup Bridge, acquired by Stripe for $1.1 billion in 2025. OUSD is designed to return most reserve revenue to participants, minus a small management fee, targeting the stablecoin market currently dominated by Tether (USDT, ~62% market share) and Circle (USDC, ~25% market share). The announcement follows the July 2025 Genius Act, which established a regulatory framework for stablecoins. Circle's stock dropped 13% after the news. Tether and Circle CEOs publicly welcomed the competition. The move is part of a broader trend of corporations and consortiums entering the stablecoin space, including Klarna, Amazon, Walmart, and a separate bank-led initiative by JPMorgan Chase, Bank of America, and Citigroup.
Yahoo FinanceCircle Stock Falls 15% as New Rival Stablecoin Targets USDC’s Enterprise Users
Circle Internet Group (CRCL) shares fell nearly 15% after Open Standard unveiled Open USD (OUSD), a stablecoin backed by over 140 companies including Visa, Mastercard, and Coinbase, directly targeting the enterprise users of Circle's USDC. The new stablecoin offers free minting and redemption, allowing partners to keep reserve earnings after a small fee, challenging Circle's revenue model which relies on reserve interest (99% of 2024 revenue). Coinbase, which previously received $908 million from Circle to distribute USDC, has joined the rival consortium. Circle's advantages include regulatory standing in US and Europe and deep liquidity. Open USD goes live later this year on Plasma and other chains. Circle's revenue-sharing deal with Coinbase expires in August.
Yahoo FinanceCircle Stock Declines 15% as New Open USD Stablecoin Consortium Targets USDC's Enterprise Market
Shares of Circle Internet Group (CRCL) dropped nearly 15% on Tuesday after Open Standard unveiled Open USD (OUSD), a new dollar-pegged stablecoin backed by over 140 companies including Visa, Mastercard, Coinbase, BlackRock, and Stripe. Open USD directly targets the enterprise users of Circle's USDC by offering free minting and redemption, and allowing partners to keep reserve interest earnings—a model that challenges Circle's primary revenue source, which was 99% dependent on reserve interest in 2024. The launch is particularly threatening as Coinbase, which received $908 million from Circle to distribute USDC in 2024, is now a partner in the rival project. However, Circle retains regulatory standing in the US and Europe and deep exchange liquidity. The consortium's history raises caution, as similar efforts like Facebook's Libra collapsed under regulatory pressure. Open USD is expected to go live later this year, just ahead of the renewal of Circle's key revenue-sharing deal with Coinbase in August.
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