Japanese investment bank Mizuho reiterated its neutral rating on Circle, saying OCC approval for a national trust bank doesn't address slowing USDC growth or rising competition.
- Mizuho said Circle's final OCC approval for a national trust bank is a positive step but doesn't address the company's core challenges.
- The bank pointed to USDC's declining market capitalization since March as a key concern.
- The report also warned that Open USD, a new consortium-backed stablecoin, could accelerate competition and pressure Circle's business.
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Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters :
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Tom Lee sees $2 trillion wealth transfer fueling crypto demand as Bitmine buys more ether
Tokenized catastrophe bonds target the disaster-insurance gap
Standard Chartered offers RLUSD custody in Dubai and plans LMAX collateral link
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