Circle Shares Drop 8% After Open Standard Launches Open USD Stablecoin With 140 Backers

According to CoinDesk, Circle shares fell about 8% on June 30 after Open Standard unveiled Open USD, a stablecoin backed by more than 140 companies in payments, banking, fintech, and crypto. The token will enable fee-free minting and redemption, with participating partners receiving reserve income after management fees.
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