Blockchain Bulletin: OpenUSD set to disrupt USDT & USDC dominance
What's happening
Open USD, a new stablecoin backed by dozens of firms including Visa, Mastercard, US Bank, Google and Coinbase, is slated to launch later this year. The push comes as stablecoin activity is moving beyond retail crypto rails: companies are launching proprietary stablecoins (Tap), programmable stablecoin commerce networks are being built (Geoswift and SKUx), and major players including PayPal (PYUSD) and Visa (stablecoin settlement pilot) are pursuing merchant and settlement use cases. Industry participants say stablecoin transaction volumes have overtaken Visa and Mastercard, and operators are being urged to embrace stablecoins or risk falling behind.
Why it's trending
Because large payments firms and banks are coalescing around new stablecoin infrastructure (Open USD and others) while pilots and proprietary launches signal imminent real-world settlement use.
Signal1.4× its usual volume, confirmed across 2 independent source types.
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If Visa and Mastercard are backing Open USD, maybe USDT and USDC's hegemony is already toast, and that's not necessarily bad for merchants or banks.
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Original sources17
- Blockchain Bulletin: OpenUSD set to disrupt USDT & USDC dominance
This week on Blockchain Bulletin, a group of 140 of some of the largest entities in the world has co-launched a new USD stablecoin, OpenUSD, to challenge the market dominance of Tether’s USDT and Circle’s USDC. Also this week, Binance landed regulatory hot water again from past compliance failures this time in the UK, Donald […]
Payment ExpertJul 2 - Open USD’s Biggest Challenge Isn’t Circle or Tether, It’s History
Institutional memory tends to go out the window when covering crypto’s innovations. But the Tuesday (June 30) announcement that more than 140 companies spanning the payments, banking, asset management and cryptocurrency infrastructure spaces have joined a consortium called Open Standard to launch Open USD, or OUSD, a dollar-backed stablecoin, should have had at least some stakeholders feeing [R
PYMNTSJul 1 - White-Label Open Banking & Stablecoin Payout Partnership
We are looking for a white-label open banking solution that can support merchant payments and payouts through a crypto/stablecoin checkout flow. Our goal is to allow customers to pay by bank transfer/open banking, while merchants can receive settlement or payouts in stablecoins such as USDC/USDT, depending on the supported corridors and compliance requirements. We are interested in understanding y
r/PaymentProcessingJul 1
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