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Mizuho turns bearish on stablecoin issuer Circle, citing Open USD competition
The Japanese investment bank said Open USD's yield pass-through model could pressure Circle's margins by shifting more reserve income to distributors.
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coindesk.com
Circle's (CRCL) OCC approval fails to ease core concerns, Mizuho says
Japanese investment bank Mizuho reiterated its neutral rating on Circle, saying OCC approval for a national trust bank doesn't address slowing USDC growth or rising competition.
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Mizuho turns bearish on stablecoin issuer Circle, citing Open USD competition
The Japanese investment bank said Open USD's yield pass-through model could pressure Circle's margins by shifting more reserve income to distributors.
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theblock.co
Wall Street turns cautious on Circle as analysts warn USDC economics face mounting pressure
Mizuho downgraded the stock and JPMorgan lowered earnings estimates, citing concerns that USDC is coming under pressure.
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cryptobriefing.com
Circle's stock faces turbulence as $310B stablecoin market heats up with new competitors
Circle's CRCL stock faces pressure as the $310B stablecoin market attracts competitors like Open USD, backed by Coinbase and BlackRock, despite OCC bank
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Open USD poses new threat to Circle by challenging USDC’s core business model, CoinShares says
The consortium-backed stablecoin would share reserve income with partners instead of the issuer, pressuring Circle's margins if it debuts in 2026.
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CoinShares warns Open USD threatens Circle's USDC stablecoin dominance
CoinShares flags Open USD as USDC's biggest threat yet. The 140-firm consortium backing OUSD sent Circle's stock down 17.5% with a new revenue-sharing