Technology
Tech, Finance Titans Redraw Stablecoin Map in Threat to Circle
Key Points
Cryptocurrencies Tech, Finance Titans Redraw Stablecoin Map in Threat to Circle For years, the stablecoin race has been defined by a simple objective: build the dominant digital dollar. This week’s turbulence in Circle Internet Group Inc.’s shares suggests investors are beginning to price a different future — one in which the biggest rewards may accrue not to the companies issuing stablecoins, but to those controlling how they move. Circle’s shares tumbled Tuesday after the introduction of...
Cryptocurrencies
Tech, Finance Titans Redraw Stablecoin Map in Threat to Circle
For years, the stablecoin race has been defined by a simple objective: build the dominant digital dollar. This week’s turbulence in Circle Internet Group Inc.’s shares suggests investors are beginning to price a different future — one in which the biggest rewards may accrue not to the companies issuing stablecoins, but to those controlling how they move.
Circle’s shares tumbled Tuesday after the introduction of Open USD, a rival stablecoin backed by Visa Inc., BlackRock Inc., Alphabet Inc. and Coinbase Global Inc., before rebounding Thursday.