Open USD Consortium Launches Stablecoin With Built-In Distribution Network
Open USD (OUSD) is making waves in the stablecoin market, according to experts who believe it could erode Circle's USDC first-mover advantage.
The Open Standard consortium, backed by over 140 companies including Visa, Mastercard, Stripe, Coinbase, and BlackRock, has launched OUSD with a unique economic model that distributes most reserve earnings to partner companies after a small management fee.
This design could change how stablecoins compete, said Alex Witt, general partner at Verda Ventures. He noted that distribution is key and that OUSD's built-in network of companies can leverage the distribution channels of its 140 partners.
Bernardo Brites, CEO and co-founder of Trace Finance, described the launch as a structural shift in how stablecoin networks are built. He said OUSD brings together companies that often compete with each other across payments, custody, exchanges, asset management, and banking.
The launch has already been noticed by markets, with Circle shares falling after the announcement.