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The Open USD Alliance strikes with full force! Visa, BlackRock, Alphabet, and Coinbase join forces, sending Circle’s stock price tumbling.
The Open USD Alliance is making a strong entrance! Visa has launched a new platform designed to make it easier for banks, fintech firms, and cryptocurrency companies to build products using stablecoins, as part of its broader push into blockchain-based payments. On Thursday, the company announced the launch of the Visa Stablecoin Platform (VSP)—an enterprise service that enables institutions to issue, store, transfer, and redeem stablecoins through a single Visa-managed system. At launch, the platform supports Open USD, the newly introduced stablecoin from Open Standard, and includes tools for minting and redeeming tokens, along with wallet infrastructure for managing on-chain assets. Join the CFTime Telegram discussion group now! Stay up to date with the latest developments in the crypto market and AI news, and get free Web3 event passes! Core Features of the Visa Stablecoin Platform Visa stated that the platform offers Wallet-as-a-Service infrastructure, blockchain connectivity, and security features such
After its stock price plummeted by three-quarters, Circle (CRCL.US) has suffered another blow: Visa and BlackRock are leading a coordinated move against it, and Mizuho has downgraded its price target to $50.
Since its initial public offering (IPO) last year and a subsequent surge to its peak, Circle's share price has now lost more than three-quarters of its value. As an increasing number of stablecoins flood the market, some analysts warn that the worst may be yet to come.