Circle Shares Plunge: What Does the OpenUSD Stablecoin Alliance Mean? - Substack
Circle shares fell as much as 18% after a consortium of more than 140 firms including Visa, Mastercard, Stripe, Coinbase, BlackRock and Google unveiled Open USD, a stablecoin promising zero-fee minting and redemption and reserve income shared with partners. That directly targets Circle, which keeps the yield on about $73 billion of USDC reserves and derives roughly 96% of revenue from it.
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