Jun 30, 2026
Visa, Stripe, BlackRock and 140+ firms launch Open USD stablecoin, sending Circle shares down 15%
A consortium of over 140 major financial and technology companies including Visa, Stripe, Mastercard, BlackRock, Coinbase, and Bank of New York Mellon launched Open USD (OUSD), a new stablecoin that shares reserve earnings with participants. The announcement caused Circle Internet Group shares to tumble 15% as the initiative directly challenges existing stablecoin leaders.
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