The consortium-backed stablecoin would share reserve income with partners instead of the issuer, pressuring Circle's margins if it debuts in 2026.
- CoinShares said Open USD directly challenges Circle by giving partners income generated by reserves backing the stablecoin, undermining USDC's distribution economics.
- Open USD comprises more than 140 companies, including BlackRock, Coinbase, Mastercard, Stripe and Visa. The stablecoin is expected to debut in the second half of 2026.
- Despite the threat, CoinShares said USDC’s established liquidity and integrations could prove difficult for any newcomer to replicate.
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Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters :
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
AI agents make 138 million crypto payments as U.S. dominates spending on AI models
EasyA hits $1.1 billion valuation, targets 2027 public listing and tokenized shares
Former FTX Europe chief targets U.S. tokenized stock trading with new SEC exemption
Original sourceCoinDesk
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