Visa (V.US) and Stripe join more than a hundred institutions to establish the stablecoin Circle (CRCL.US), which plummeted by 17.55%.

According to the 36Kr Finance APP, on Tuesday, the stock price of stablecoin issuer Circle (CRCL.US) plummeted by 17.55%. The reason is that the market is hearing news that Visa (V.US), Stripe, and more than 100 financial institutions are jointly launching a new stablecoin project, which could intensify competition in the stablecoin market.