Ripple, Circle, Coinbase, and Visa Inc. are involved in the broader stablecoin ecosystem, facing competitive pressure from consortium initiatives.
1 report, 1 independent
Updated Jul 1
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What happened
Ripple, Circle, Coinbase, and Visa Inc. are involved in the broader stablecoin ecosystem, facing competitive pressure from consortium initiatives.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Ripple invested to add identity checks and transaction authorization as it operates its stablecoin business through SBI Group.Sub-event
- Major companies are launching a new stablecoin.Sub-event
- The OUSD consortium, featuring BlackRock, Mastercard, and Visa, is challenging USDC market share, while Coinbase earns reserve income from USDC.Sub-event
The four companies are facing competitive pressure as a consortium challenges Circle's market share in the stablecoin space.1 source
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The entities involved
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Ripple
creator and a developer of the Ripple payment protocol and exchange network.
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Circle
peer-to-peer payments technology company
- Coinbase operates as a leading regulated crypto exchange, utilizing its Base Layer-2 network built on Ethereum, and shares revenue with Circle in the USDC ecosystem.
- Hana Bank is participating in a settlement network trial involving the Bank of Korea, while Binance announces a $100M investment to promote Circle's USDC.
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Coinbase
American company that operates a cryptocurrency exchange platform
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Visa Inc.
American multinational financial services corporation
Related events
- Circle is linked to broader crypto market trends, while Coinbase has heavy exposure to digital asset trading activity.
- Circle is building its own blockchain via Arc and testing stablecoin rails on Base, while facing market pressures regarding high distribution partner costs.
- Industry leaders like Circle, Stripe, Robinhood, and Coinbase are exploring proprietary blockchain solutions to meet the demands of decentralized payments.
- MoneyGram chose Circle's USDC for payments, amidst intense stablecoin market competition and the dissolution of past partnerships.
- Coinbase is lobbying for favorable Clarity Act legislation, Circle is building financial infrastructure on the Arc network, and MicroStrategy Inc. remains the largest Bitcoin treasury holder.