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Open Standard Challenges Circle's Stablecoin Dominance | Bitcoin and Crypto News
Description
Circle’s stock took a hit as Open Standard, backed by Stripe and Coinbase, launched OUSD—a stablecoin that shares reserve interest with partners, directly challenging Circle’s profit model. With Coinbase’s partnership up for renewal, the move signals a new era in stablecoin competition, shifting focus to distribution platforms. While some call it existential, others see the drop as overblown, recalling past failed consortium efforts like USDG. The real test? Can OUSD actually gain traction? Building a network isn’t just about big names—it’s about convincing users and businesses to switch, a long and uncertain road.
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