Coinbase, Visa, and Mastercard Say Open USD Is Not a Replacement for USDC
2026-08-04 17:59
Odaily Planet Daily News Since the launch of Open USD, the market has raised concerns that it directly challenges Circle's USDC, causing Circle's market cap to evaporate by billions of dollars.
Executives at Coinbase, Visa, and Mastercard stated that the companies are advancing a multi-stablecoin, multi-chain strategy, positioning Open USD as an additional network rather than a replacement for USDC.
Analysts noted that several Open USD partners have so far made only light commitments, and that project execution capability, along with the existing liquidity of USDC and USDT, will be more critical than the size of the Open USD alliance.
Executives at Coinbase, Visa, and Mastercard stated that the companies are advancing a multi-stablecoin, multi-chain strategy, positioning Open USD as an additional network rather than a replacement for USDC.
Analysts noted that several Open USD partners have so far made only light commitments, and that project execution capability, along with the existing liquidity of USDC and USDT, will be more critical than the size of the Open USD alliance.
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