Circle (NYSE: CRCL) shares plunged on Tuesday after the unveiling of the Open USD (OUSD) stablecoin network triggered concerns about rising competition in the fast-growing stablecoin market. While the announcement rattled investors and fueled speculation that OUSD could challenge USDCs dominance, several industry analysts believe it is too early to view the new consortium as a serious long-term threat to Circle. The Open Standard initiative is backed by more than 140 companies, including Stripe, Coinbase, Visa, Mastercard, and BlackRock. The consortium immediately drew attention because it… Read more
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