Open USD Raises Competition in the Global Stablecoin Payments Market
The article analyzes the launch of Open USD (OUSD), a new stablecoin backed by a consortium of over 140 participants including Visa, Mastercard, Stripe, Coinbase, and BlackRock. OUSD differentiates itself by sharing reserve earnings with consortium members, creating a financial incentive for distribution through exchanges, wallets, and merchant services. This model challenges established incumbents USDT and USDC, which maintain advantages through liquidity depth and exchange listings. Experts interviewed note that different stablecoins will serve different use cases—PYUSD for consumer payments, OUSD for business settlement, exchange-backed coins for trading, and bank-supported assets for treasury management. Regional demand varies, with Latin America leading in everyday stablecoin use for savings and cross-border payments due to currency instability and high remittance costs. The Gulf region is an early regulatory leader, Japan builds bank-connected products, and the US gains more room for regulated issuance.
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