Category: Markets
Published: 2026-06-30T14:34:16.000Z
Circle's shares dropped by 8% after a consortium including Stripe, Coinbase, Mastercard, Visa, and BlackRock launched Open USD, a new stablecoin. Open USD challenges Circle's USDC by allowing partners to retain reserve income and eliminating minting fees, targeting a key revenue stream for existing stablecoin issuers. This new model aims to increase adoption by aligning incentives with participating businesses, similar to other stablecoin consortia.
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