# OUSD Articoli collegati

Il Centro Notizie HTX fornisce gli articoli più recenti e le analisi più approfondite su "OUSD", coprendo tendenze di mercato, aggiornamenti sui progetti, sviluppi tecnologici e politiche normative nel settore crypto.

Building USDC by Its Own Hands, Why Does Coinbase Turn to Support Competitor OUSD?

Coinbase, a key distributor of the dominant stablecoin USDC, has joined over 140 major companies—including Visa, Mastercard, and BlackRock—as a founding member of the Open USD (OUSD) alliance, a move that directly challenges the current stablecoin economic model. The new project aims to upend the established profit structure by offering zero minting and redemption fees and allocating the majority of reserve interest earnings to distribution partners, rather than the issuer. This shift highlights a growing power struggle in the $320+ billion stablecoin market, where platforms with massive user bases are demanding a larger share of the revenue generated from the underlying reserves. Circle, the issuer of USDC, saw its stock plummet 16% on the day of the OUSD announcement, reflecting investor concern over the potential strain on its crucial partnership with Coinbase. While Coinbase earned over $900 million from its USDC partnership in 2024, its support for a competing model gives it significant leverage as its revenue-sharing agreement with Circle nears expiration in August 2026. Circle CEO Jeremy Allaire defended the USDC model, emphasizing its decade-long development, deep liquidity, and extensive ecosystem integration, which he argues cannot be easily replicated by a large, potentially slow-moving consortium. He also questioned the sustainability of a zero-fee model and warned that diverting all reserve interest would leave issuers without funds for critical compliance and operational infrastructure. Analysts remain skeptical of OUSD's prospects, citing the "cold start" problem of building liquidity, potential governance challenges within a large alliance, and heightened regulatory scrutiny. The emergence of OUSD signals a broader industry bifurcation, where stablecoins are increasingly viewed as backend settlement tools. The core competition is shifting from technology to a direct negotiation over how profits from the network are distributed between issuers and the powerful distribution channels.

Foresight News4 h fa

Building USDC by Its Own Hands, Why Does Coinbase Turn to Support Competitor OUSD?

Foresight News4 h fa

Visa-Mastercard Stablecoin Debate Puts XRP Ledger Design Back In Focus

A new consortium-backed stablecoin project called Open USD (OUSD), involving major firms like Visa, Mastercard, and Ripple, has reignited discussions about the XRP Ledger's (XRPL) design. Notably, former Ripple engineer Matt Hamilton highlighted that OUSD's multi-lateral reserve-sharing structure resembles concepts present in XRPL's architecture since 2012. This is a technical comparison, not an announcement of OUSD launching on or being built by Ripple. The project's initial rollout is expected on Solana and Tempo. For the XRP community, the significance lies in the validation of XRPL's early design principles for fast settlement and asset issuance, now being revisited by major financial players in the stablecoin space. The debate underscores XRPL's historical foresight but does not guarantee direct integration or usage. The focus should remain on the technical parallels and the broader utility narrative for XRPL, avoiding unwarranted claims of direct involvement.

bitcoinist9 h fa

Visa-Mastercard Stablecoin Debate Puts XRP Ledger Design Back In Focus

bitcoinist9 h fa

Dragonfly Partner: OUSD's Arrival, the Fate of the Three Stablecoin Giants Diverges

OUSD's launch introduces complex implications for the stablecoin market, particularly affecting the three major issuers—Circle, Tether, and Paxos—differently. For Circle (CRCL), the immediate market reaction was negative, with its stock dropping significantly upon the announcement. While Circle faces pressure from potential shifts in partnerships (like with Coinbase) and new competition from OUSD, it retains advantages such as a deeply integrated, high-liquidity infrastructure and first-mover status. However, OUSD could become the default choice for many Stripe partners if it achieves sufficient liquidity, potentially eroding USDC's position in certain segments. Circle's lack of an investment-grade credit rating remains a hurdle for large corporate adoption. Tether is largely insulated, as OUSD targets a different market segment; Tether will continue focusing on underserved markets. In contrast, Paxos faces a serious threat, as OUSD undermines the competitive edge of its USDG stablecoin and diminishes its regulatory compliance advantage. This has driven Paxos to pivot toward brokerage and BaaS services. Overall, while OUSD's entry intensifies competition and may alter market dynamics, it is not a death knell for Circle but underscores the need for accelerated innovation and strategic acquisitions to defend its position.

Foresight NewsIeri 07:02

Dragonfly Partner: OUSD's Arrival, the Fate of the Three Stablecoin Giants Diverges

Foresight NewsIeri 07:02

Circle CEO Responds to OUSD Challenge: Stablecoin Market Is 'Winner-Takes-All', Consortium Model Doomed to Fail

Circle CEO Jeremy Allaire addresses market concerns following the announcement of the Open USD (OUSD) stablecoin project backed by 140 global companies. Allaire argues the stablecoin market exhibits "winner-takes-all" dynamics due to powerful network effects. He cites USDC's near-decade lead in three key areas: 1) **Application Integration & Protocol Development**: Thousands of integrated services and protocols (like CCTP) create utility and lock-in for developers and users. 2) **Liquidity Network Effects**: A deeply embedded, globally distributed liquidity infrastructure across primary and secondary markets, built over years. 3) **Regulatory Integration**: Extensive licensing and compliance groundwork ensuring USDC's acceptance in major markets like Europe and Japan. Allaire challenges OUSD's proposed advantages. He contends that promises of free redemption, while appealing, face market realities where such models can become exit routes for other stablecoins. He also questions the feasibility of fully distributing all revenue to an alliance, stating it would "starve" the critical infrastructure investments needed for scale and utility. Furthermore, he expresses skepticism about large alliance governance models, noting they often lead to slow decision-making and misaligned incentives. While welcoming OUSD to the ecosystem, Allaire reaffirms confidence in USDC's dominant position, backed by its long-term infrastructure investments and strong partnerships, including its ongoing collaboration with Coinbase.

marsbitIeri 04:04

Circle CEO Responds to OUSD Challenge: Stablecoin Market Is 'Winner-Takes-All', Consortium Model Doomed to Fail