Follow UsOpen USD rattled Circle's stock, but its key backers still support USDC
Bearish-1.54%
4 Aug, 17:55
Source: CoinDesk
AI Summary
Open USD's emergence has pressured Circle's stock, but major payment companies including Coinbase, Visa, and Mastercard continue to support USDC, indicating stablecoin competition rather than replacement.
Executives at Coinbase, Visa and Mastercard said they plan to support multiple stablecoins, suggesting Open USD is another payments rail rather than a direct replacement for USDC.