Open USD rattled Circle's stock, but its key backers still support USDC
CoinDesk·
60-second summary
Executives at Coinbase, Visa, and Mastercard reaffirm their support for USDC, despite Open USD's recent market volatility, indicating their backing is not solely tied to a single stablecoin. They plan to support multiple stablecoins, viewing Open USD as an additional payments rail rather than a replacement for USDC, maintaining stability in the crypto ecosystem.
Executives at Coinbase, Visa and Mastercard said they plan to support multiple stablecoins, suggesting Open USD is another payments rail rather than a direct replacement for USDC.