Circle Shares Fall 4.7% Despite Mizuho Calling OCC Approval for Digital Currency Bank a Positive

Circle’s final approval from the Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank was viewed positively by Mizuho, but the company’s shares fell 4.7% to $63.03 on Monday. According to NS3.AI, Mizuho said USDC’s market capitalization has declined since March 2026, highlighting a potential headwind for Circle’s stablecoin business. Mizuho also cautioned that Open USD could intensify competition in the stablecoin market and increase pressure on Circle’s operations.