
Circle Defends USDC's Edge as OpenUSD Consortium Rattles Investors
Jefferies warned against buying Circle's dip as the Stripe- and Coinbase-backed OUSD stablecoin launches, while CEO Jeremy Allaire touts USDC's network scale.

Festus Folo
Managing Editor, Africa · Lagos
The launch of a new stablecoin network backed by some of crypto's biggest names has reignited questions about competition in the digital dollar market — and how well established issuer Circle can defend its position across the regulated corridors linking Europe, Africa, and beyond.
Wall Street Sounds a Caution
Investment bank Jefferies advised investors against treating a recent slide in Circle's share price as a buying opportunity, according to reporting by CoinDesk. The bank's concern centres on OpenUSD, a stablecoin consortium supported by payments firm Stripe and exchange Coinbase, which it said could weigh on the growth of Circle's USDC token.
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