Mizuho: Circle's Bank Approval Won't Fix Slowing USDC Growth

Japanese investment bank Mizuho maintained a neutral rating on Circle, the issuer of the USDC stablecoin, saying that OCC approval for a national trust bank does not address slowing USDC growth or intensifying competition in the stablecoin market. Competitive risks remain a key factor in Mizuho's cautious assessment of the company.