Circle co-founder appears to respond to Open USD launch: welcomes market competition, will continue to expand the USDC ecosystem

Odaily reported that Circle co-founder and CEO Jeremy Allaire posted a statement seemingly in response to the launch of Open USD. He stated that stablecoins are reshaping the infrastructure for storing and circulating money alongside the internet, becoming one of the world’s largest potential market opportunities, and emphasized his long-term and firm optimism for this sector.

Circle will continue to expand the USDC ecosystem by onboarding more blockchain networks, enhancing cross-chain interoperability, and strengthening integration with traditional financial systems, including banks, payment companies, and capital market institutions, to further standardize stablecoin infrastructure. It welcomes ongoing innovation and competition within the industry and will focus on building more robust stablecoin infrastructure, while improving partners’ ecosystem participation and economic incentive mechanisms, aiming to promote the development of a "stablecoin-native internet financial system".

Previously, it was reported that, possibly driven by competitive news regarding Open USD, CRCL fell nearly 9% during intraday trading.