According to BlockBeats, on June 30, Bitget market data showed that Circle’s stock price extended its opening decline, falling over 13% to $65.82, with its market capitalization dropping to $16.351 billion. The direct trigger for this sell-off was news that dozens of major financial institutions – including payment giants Visa, Stripe, Mastercard, asset management titan BlackRock, and crypto exchange Coinbase – are planning to jointly launch a new stablecoin named OUSD. The stablecoin will adopt a revenue-sharing model among partners, a structure that could attract more merchants and users by distributing network profits. Market participants interpret this as a direct competitive threat to Circle’s USDC, which currently holds a significant share of the regulated stablecoin market. The involvement of such a powerful consortium signals that traditional finance is intensifying its push into the crypto stablecoin space, potentially reshaping the competitive landscape. Circle’s stock price reacted sharply, reflecting investor concern over losing market share to this well-backed new entrant.
