CRCL, COIN Stocks Drop After Visa Backs USDC Rival Stablecoin Open USD

Visa launched its Stablecoin Platform backing Open USD, a rival to Circle's USDC, triggering a 5.9% drop in Circle shares and 3.9% decline in Coinbase stock. The move signals major payments infrastructure pivoting away from Circle's stablecoin dominance.

This Wire brief sits within Fusion42's coverage of Fintech. Wire is Fusion42's founder-focused intelligence feed: each story is connected to the funds and startups it names — every one with a live profile on Raise or Scout — so founders can follow the capital and the momentum behind the headline rather than just the headline itself. Wire analysis is one of the live surfaces Arthur, Fusion42's AI co-founder, reasons over.