Established payment giants team up to launch a new stablecoin platform, causing Circle and Coinbase stock prices to drop first—I've seen this story before.

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CoinNetwork
According to Crypto界 News, CoinDesk reported that after the market opened, shares of Coinbase and Circle came under pressure, as CoinDesk said Coinbase is evaluating whether to participate in a new stablecoin platform supported by Stripe, Visa, and Mastercard. Circle’s share price fell 4% in early trading on Tuesday, while Coinbase fell 1.4%. During this period, the price of Bitcoin dropped 2.8% within 24 hours, trading near $66,800. Circle’s business is closely tied to USDC, and in 2025, Circle generated revenue of $2.64 billion from USDC-supported assets.
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