LATEST: Mizuho kept its neutral rating on Circle, saying its OCC bank approval doesn't fix slowing USDC growth, with the supply down $7B from its March peak.

What happened

Mizuho kept its neutral rating on Circle, saying the OCC bank approval does not fix the slowdown in USDC growth, with the supply down seven billion dollars from its March peak.

Confirmed

Global impact / market context

A neutral rating suggests limited upside for Circle’s USDC, which may lower investor confidence in this stablecoin that acts as a low‑volatility digital cash used for trading and payments.

Analyst inference

USDC’s supply drop shows wider worries about stablecoin demand as regulators scrutinize the sector, and the OCC approval—though a positive regulatory step—has not yet boosted usage or price stability.

Analyst inference

What to watch

1. Any new regulatory approvals or filings by Circle that could improve USDC’s credibility and increase its use in payments. Proposed
2. Trends in USDC on‑chain supply, which reflect user demand and confidence in the stablecoin’s stability. Proposed
3. Activity of competing stablecoins, such as Tether’s supply changes, which could affect USDC’s market share. Proposed

Affected assets

• USDC — USD Coin

Evidence

• x.com