# Mizuho Says Circle's Trust-Bank Approval Does Not Fix Slowing USDC Growth

The Japanese bank kept a neutral rating, warning that a national trust charter leaves USD Coin exposed to intensifying stablecoin competition.

- Published: 2026-07-14T05:28:12.059Z
- Canonical: https://polylog.news/crypto/2026-07-14/mizuho-says-circle-s-trust-bank-approval-does-not-fix-slowin
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/business/2026/07/13/mizuho-says-circle-bank-approval-doesn-t-solve-usdc-growth-stablecoin-competition-risks)

Mizuho reiterated a neutral rating on Circle, the issuer of USD Coin, arguing that approval from the Office of the Comptroller of the Currency for a national trust bank does not address the two problems that matter most, slowing growth of U…

This story is for subscribers. Read it in full at https://polylog.news/crypto/2026-07-14/mizuho-says-circle-s-trust-bank-approval-does-not-fix-slowin (subscription information: https://polylog.news/pricing).