Coinbase, Visa, and Mastercard State Open USD Is Not a Replacement for USDC
2026-08-04 17:59
Odaily News: After the launch of Open USD, concerns arose in the market that it would directly challenge Circle's USDC, causing Circle's market value to evaporate by billions of dollars.
Executives from 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 only made 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 from 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 only made 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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