Mizuho says Circle bank approval doesn't solve USDC growth, stablecoin competition risks
CoinDesk·
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Mizuho maintains its neutral rating on Circle, citing OCC approval for a national trust bank as insufficient to address slowing USDC growth and rising competition in the stablecoin market. The bank's neutral stance reflects concerns over Circle's ability to regain momentum and maintain market share amidst intensifying competition from other stablecoin issuers.
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.