Executives at Coinbase, Visa and Mastercard said they plan to support multiple stablecoins, suggesting Open USD is another payments rail rather than a direct replacement for USDC.
- The launch of Open USD, backed by Coinbase, Visa and Mastercard, initially sparked fears of a direct challenge to Circle’s USDC and wiped billions from Circle’s market value.
- Executives at Coinbase, Visa and Mastercard now say they are pursuing a multi-stablecoin, multi-chain strategy, positioning Open USD as an additional network rather than a replacement for USDC.
- Analysts say many Open USD partners have made only light commitments and that execution and existing liquidity in USDC and USDT will matter more than the size of Open USD’s consortium.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Crypto poured years into new products. The next challenge is keeping users
The Clarity Act stalled. Bankers aren’t hitting the brakes yet on crypto dealmaking
Payments firm OpenPayd targets year-end Nasdaq listing to fund U.S. expansion and acquisitions
Original sourceCoinDesk
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