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

The Japanese investment bank said Open USD's yield pass-through model could pressure Circle's margins by shifting more reserve income to distributors.

Circle's CRCL stock faces pressure as the $310B stablecoin market attracts competitors like Open USD, backed by Coinbase and BlackRock, despite OCC bank