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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

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.

Crypto

OpenUSD launches with Visa and Mastercard as ex-Ripple engineer says XRPL was 15 years ahead

OpenUSD, a stablecoin project involving about 140 financial firms including Visa, Mastercard, Stripe and BlackRock, has launched, renewing attention on the early design philosophy of the XRP Ledger. Former Ripple principal engineer Matt Hamilton said the project’s structure is effectively the same as what XRPL envisioned when it was first designed in 2012. He said XRPL was built for banks to issue their own stablecoins and exchange them on one network.