Circle Stock Falls 16.5% on June 30 as OUSD Launches With 140-Firm Backing

SOL-2.48%
XLM4.67%
According to Bitcoin.com News, Circle (CRCL) shares fell 16.5% on June 30, 2026, closing at $63.10 after Open Standard unveiled the OUSD stablecoin. The new token is backed by 140 firms including Coinbase, BlackRock, Ripple, and Google, and charges no mint or redeem fees while sharing reserve yields with partners. Coinbase's distribution agreement with Circle, which generated approximately $908 million in 2024, renews in August. OUSD is expected to launch later in 2026 on Solana, Stellar, Base, and Polygon.
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