Circle Internet Group stock fell approximately 5.47% to a trading range of $62.10 to $63.77 in its latest active session following Visa's announcement of an internal stablecoin platform that will support OUSD, a rival to Circle's USDC. The decline reflects investor concern over increased competition in the stablecoin market, where Circle's USDC is one of the leading dollar-backed tokens. Visa's platform will provide banks, fintech firms, and merchant clients easier access to USD-pegged tokens for treasury, settlement, and money movement systems, launching with Open Standard's OUSD later this year. The competitive pressure comes as more than 140 companies, including Visa, Ripple, Stripe, Mastercard, BlackRock, and Coinbase, have joined the Open Standard effort backing OUSD. Circle faces this challenge despite receiving final approval from the OCC on July 10, 2026 to establish a national trust bank, which allows the company to directly custody its own reserves.
Visa Announces Stablecoin Platform Supporting OUSD
Visa is preparing an internal stablecoin platform for banks, fintech firms, and merchant clients. The platform will give clients easier access to USD-pegged tokens and support stablecoin use across treasury, settlement, and money movement systems. The service is expected to launch with Open Standard's OUSD later this year.
Visa already supports Circle's USDC and Paxos' USDG, but the addition of OUSD adds another stablecoin option for its client network. Visa's merchant base includes more than 200 million clients globally.
Visa's Global Head of Growth, Rubail Birwadker, described the business need behind the platform. He said, "It's less about accessing stablecoins and more about how… this interoperate[s] with their treasury settlement, their money movement workflows, [and] their existing bank setups."
Visa Chief Product and Strategy Officer Jack Forestell linked stablecoins to payment infrastructure. He said, "AI is transforming the front end of commerce. Stablecoins are reshaping the back end." He added that Visa's role is to help stablecoins work securely and reliably at global scale.
OUSD Attracts 140+ Company Backers Including Ripple and Mastercard
OUSD has drawn attention because its model is expected to share much of the income earned from reserves. Businesses will also be able to mint and redeem Open USD without fees or volume limits, based on the project's stated structure.
More than 140 companies, including Visa, Ripple, Stripe, Mastercard, BlackRock, and Coinbase, previously joined the Open Standard effort. That group gives OUSD a strong starting network as stablecoin competition moves deeper into payments and settlement.
Mizuho Downgrades Circle Stock to Underperform
Mizuho Securities recently downgraded Circle stock to Underperform and lowered its price target to $50, citing rising competition from OUSD and the risk to Circle's interest-income model.
Compass Point took a more balanced view by raising its Circle price target to $62 while keeping a Neutral rating. Wall Street remains divided as investors weigh Circle's growth prospects against new rivals and future revenue-sharing talks with Coinbase.
Circle Receives OCC Approval for National Trust Bank
Circle received final approval from the OCC on July 10, 2026 to establish a national trust bank. That approval allows Circle to directly custody its own reserves.
Circle continues to expand USDC partnerships. Jeremy Allaire noted that more global payments leaders are joining the USDC network after Circle partnered with Japan's JCB to bring USDC to 40 million merchants across cross-border and everyday transactions.
FAQ
Why did Circle stock fall in its latest session?
Circle stock fell approximately 5.47% to a range of $62.10 to $63.77 after Visa announced an internal stablecoin platform that will support OUSD, a rival to Circle's USDC. Investors responded to increased competition in the stablecoin market.
What is Visa's new stablecoin platform?
Visa is preparing an internal stablecoin platform for banks, fintech firms, and merchant clients. The platform will provide easier access to USD-pegged tokens and support stablecoin use across treasury, settlement, and money movement systems. The service is expected to launch with Open Standard's OUSD later this year.
What regulatory approval did Circle receive?
Circle received final approval from the OCC on July 10, 2026 to establish a national trust bank. The approval allows Circle to directly custody its own reserves.
