Mizuho Details Rising Redemptions and New Stablecoin Rival Pressuring Circle

Stablecoin issuer Circle faces several challenges despite its receipt of final approval from the Office of the Comptroller of the Currency (OCC) to establish a bank, analysts from Japanese investment bank Mizuho wrote in a Friday (July 10) note, CoinDesk reported Monday (July 13). Reiterating Mizuho’s neutral rating on the company, the analysts led by Dan Dolev wrote that Circle has seen a decline in its market capitalization since March, has seen redemptions of its stablecoin outpace new issuan