A New Stablecoin Is Taking Aim at Circle's USDC. Here's What Investors Need to Know.
Open USD has some big backers, but it still needs to launch its stablecoin.
Overview
There's a new stablecoin in town that wants to shake up the industry. On June 30, a consortium of over 140 organizations announced the launch of Open USD, which has an enticing offer for partners. It proposes joint governance and sharing the interest it earns on its reserves with its partners, as well as free Open USD minting and redemptions.
Image source: Getty Images.
Circle Internet Group (NYSE: CRCL), which issues USD Coin, fell 22% over the 48 hours following the announcement, though it has since pared its losses.
Details
Source
Originally published at www.fool.com.
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