Circle Stock Falls 6% as Visa Launches Rival OUSD Stablecoin Platform

CRCL-7.67%
V2.67%
Circle stock fell 6% on July 17 after Visa announced preparations for a stablecoin platform supporting Open Standard's OUSD, intensifying competition for Circle's USDC in global payments. Visa's platform will provide banks, fintech firms, and merchant clients access to USD-pegged tokens for treasury, settlement, and money movement, leveraging Visa's network of over 200 million merchants globally. The move comes as Circle secured regulatory approval on July 10 from the OCC to establish a national trust bank, allowing it to directly custody its own reserves and strengthening its position in the regulated stablecoin market.
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