---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/41844224.md"
description: "$Circle(CRCL.US)The market's biggest concern is that giants like Visa, Mastercard, and Stripe are launching their own stablecoins. This is seen as the biggest negative factor recently, but Allaire's core response is just one sentence: Stablecoin is a network effect business, and history has repeatedly proven that consortium-type stablecoins have never succeeded."
datetime: "2026-06-12T17:29:06.000Z"
locales:
  - [en](https://longbridge.com/en/topics/41844224.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/41844224.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/41844224.md)
author: "[杏林居士](https://longbridge.com/en/profiles/14094261.md)"
---

# $Circle(CRCL.US)The market's biggest concern is th…


### Related Stocks

- [CRCL.US](https://longbridge.com/en/quote/CRCL.US.md)

## Comments (2)

- **杏林居士 · 2026-06-12T17:30:29.000Z · 👍 1**: The advantage of other compliant stablecoins entering to compete with CRCL is indeed significant. Other compliant stablecoins are merely moving part of their existing business onto the chain, not creating incremental growth. Native on-chain projects and incremental business are limited in considerin
  - **杏林居士** (2026-06-12T17:44:32.000Z): Institutional Risk Analysis