TradingKey – More than 140 financial institutions jointly launch OUSD, breaking Circle’s profit-monopoly model and sending its stock price plunging to near $60.
On June 30, Eastern Time, Wall Street launched a brand-new stablecoin, Open USD (OUSD). The news triggered a 17.55% post-market plunge in Circle ( CRCL ), the first public stablecoin stock, with the price dropping to a low of near $62, marking its worst single-day performance since its listing.
Circle stock price chart, Source: TradingView
An epic alliance called the Open Standard—composed of over 140 traditional finance, payment giants, and crypto majors including Stripe, Visa ( V ), Mastercard ( MA ), BlackRock ( BLK ), and Coinbase ( COIN )—has rolled out the stablecoin…
