Coinbase, Visa, and Mastercard state that Open USD is not a replacement for USDC
2026-08-04 17:59
Odaily Planet Daily News: Following the launch of Open USD, market concerns arose that it would directly challenge Circle's USDC, leading to a loss of billions of dollars in Circle's market value.
Executives from Coinbase, Visa, and Mastercard have 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 capabilities, 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 have 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 capabilities, 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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