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OpenUSD Backed by Stripe and Coinbase Poses Threat to Circle, Stock Dips
The Stripe- and Coinbase-backed OpenUSD stablecoin consortium is challenging Circle's business model, reportedly causing a drop in Circle's stock.

The Stripe- and Coinbase-backed OpenUSD stablecoin consortium is challenging Circle's business model, reportedly causing a drop in Circle's stock.

Shares of Circle, the issuer of the USDC stablecoin, plummeted 13% after Stripe, Coinbase, and BlackRock announced support for a new rival stablecoin network, Open Standard's Open USD.

Mastercard is partnering with Coinbase and Stripe to build secure payment systems for AI agents, preparing for a future where AI autonomously handles transactions.

Major payment processors Visa, Mastercard, and Stripe are reportedly investing in an upcoming stablecoin platform, signaling a significant move into digital assets.