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Visa launched its new stablecoin platform, supporting Open USD and signaling a major move into the digital payments space. The announcement caused a drop in Circle's stock, highlighting increasing competition in the stablecoin market.
A consortium of over 140 financial and tech firms, including Visa, Mastercard, and Coinbase, has launched Open USD, a new dollar-pegged stablecoin aimed at challenging Circle and Tether's dominance.
