Open USD Launch Pressures Circle Shares After 17% Drop Wipes $3.3B in Market Value

Open USD has entered the stablecoin market as a new competitor to Circle, with more than 140 companies set to operate OUSD. According to NS3.AI, Circle common stock fell 17% on Tuesday, erasing $3.3B in market capitalization in less than seven hours. The report said Open Standard plans to distribute most Treasury-bond interest to partners while retaining only a small management fee.