Visa, Stripe, Coinbase and more join Open USD stablecoin that shares reserve revenue
Major fintech players back Open USD, reshaping stablecoin competition and rattling Circle’s market position
Velocity
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Where it stands
Visa, Stripe, Coinbase, and BlackRock have announced support for **Open USD**, a new stablecoin network that shares reserve revenue with participants. The move positions Open USD as a direct competitor to Circle’s **USDC** and Tether’s **USDT**, leveraging an open-standard model to attract institutional and developer adoption. Forbes frames the shift as a potential industry-wide move toward decentralized, revenue-sharing stablecoins, while The Information and Barron’s emphasize the **consortium’s strategic advantage** in liquidity and trust.
Yahoo Finance notes the **BlackRock partnership** as a key differentiator, signaling broader asset management integration. Watch for **regulatory scrutiny** of Open USD’s reserve-sharing model and its impact on Circle’s market share. The consortium’s ability to attract additional financial institutions—particularly traditional banks—could accelerate adoption, though competition with Tether’s centralized model remains unresolved.
Coverage does not yet specify whether Circle will respond with a counter-strategy or structural changes.
Synthesized by headlinez.news from the headlines below under a strict no-invention contract. ✓ fact-checked: unsupported claims removed (88% supported) Updated 45d ago.
The reporting (5)
- Dozens of Major Companies Become Open USD Launch Partners Yahoo Finance · 45d ago
- Why An Open Standard Will Win The Stablecoin Race Forbes · 45d ago
- Stripe and Co. Take On Circle and Tether in Stablecoins The Information · 45d ago
- Circle Stock Dives as Coinbase, BlackRock and Visa Back Open USD Stablecoin Yahoo Finance · 45d ago
- Circle Stock Sinks After Visa, Others Announce Rival Stablecoin Network Barron's · 45d ago
Answered
What is Open USD?
An open-standard stablecoin network backed by Visa, Stripe, Coinbase, BlackRock, and others, designed to share reserve revenue with participants and compete with USDC and USDT.
Why is Circle’s stock falling?
Circle’s stock dropped following the announcement, as analysts interpret the Open USD consortium’s backing by major fintech players as a direct challenge to USDC’s market leadership.
Will Open USD replace USDC or USDT?
Coverage does not yet specify adoption rates, but the consortium’s open model and institutional backing position it as a potential long-term competitor, though Tether’s centralized dominance and Circle’s existing network remain key factors.
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