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
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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
- The OCC finalized stablecoin rules for issuers, driving crypto equity buying and boosting Circle's USDC circulation.
- Coinbase is listed on Nasdaq, while Circle's USDC funds a quarter of Coinbase's revenue. The Senate failed to pass the CLARITY Act, amidst FED rate impacts.
- Ethereum Foundation and Circle partner with CoinShares, utilizing Kiln's infrastructure layer for strategy access.
- Trump made transactions with the UAE, while Circle faced market competition and a shareholder was identified.
- Coinbase awaits clearer rules from the SEC as Chair Paul Atkins pushes innovation exemptions for tokenized assets, with Nasdaq building supporting platforms.