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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting the accelerating institutional adoption of digital assets, a coalition of over 140 major financial firms led by BlackRock, Visa, and Stripe is launching a new stablecoin. This massive initiative aims to directly compete with currently dominant stablecoins, specifically Tether's USDT and Circle's USDC. Through this collaboration, these institutions seek to provide a regulated, institutionally-backed alternative to meet the growing demand for digital liquidity.
This move comes as the stablecoin market experiences steady growth, with Tether (USDT) maintaining a market share of over 70% and a market cap exceeding $110 billion per market data. In comparison to peers, PayPal's recent earnings highlighted growth in its PYUSD stablecoin usage, incentivizing payment giants like Visa and Stripe to solidify their presence in the sector to capture transaction fees and digital liquidity.
Regarding market performance, BlackRock (0QZZ.L) closed at $991.91 on July 2, 2026, while Visa (3V64.DE) stood at $313.45 as of the July 3, 2026 close. Investors are now watching for further technical details regarding the official launch date, alongside key economic catalysts such as the Chinese Manufacturing PMI data scheduled for release on June 30.