Open USD rattled Circle's stock, but its key backers still support USDC

CryptoInfo Editorial Team · Published on August 04, 2026 at 17:55 · 1 min read

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Key Takeaways

→Executives at Coinbase, Visa, and Mastercard plan to support multiple stablecoins
→Open USD is viewed as another payments rail rather than a direct replacement for USDC
→Key backers remain committed to supporting USDC

Disclaimer: This content is provided for informational purposes only and does not constitute financial or investment advice.

According to reporting from CoinDesk, the introduction of Open USD has had an impact on Circle's stock.

Despite this, key backers of USDC, including executives at Coinbase, Visa, and Mastercard, have expressed their intention to continue supporting USDC.

These executives suggest that Open USD is not a direct replacement for USDC, but rather an additional payments rail, implying that they plan to support multiple stablecoins.

Source: CoinDesk ↗

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