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Coinbase joins OpenUSD, raising questions over Circle\'s position

Coinbase, a key partner behind Circle\'s USDC, has joined the founding camp of new stablecoin OpenUSD (OUSD), reports said. OpenUSD says it will charge no issuance or redemption fees and share much of reserve interest with distribution partners. Circle Chief Executive Jeremy Allaire defended USDC’s network effects and cited data on its on-chain volumes. Analysts flagged cold-start hurdles, consortium coordination and regulatory risks.

Crypto

Standard Chartered, Circle to support institutional USDC minting and redemption through banking network

Standard Chartered and Circle are launching a service that allows institutional clients to mint and redeem USDC within banking processes. Cointelegraph reported on July 2 that the first location will be the Dubai International Financial Centre. Institutions will be able to mint or redeem the dollar-linked stablecoin directly on Standard Chartered’s platform without opening a separate Circle account. Standard Chartered said it is the first major bank to offer such a USDC service.

Crypto

OpenUSD aims to reshape stablecoin revenue model, compete head-on with USDC

OpenStandard has unveiled OpenUSD, a stablecoin that shares reserve income with distribution and payment partners rather than paying returns directly to holders. The project is positioned as a shared infrastructure with more than 140 named partners, including Visa, Stripe and Coinbase. Key disclosures such as supply, redemption history and reserve details have not been released, with launch expected in late 2026. The model comes as U.S. policymakers debate restricting yield on payment stablecoin balances.