New Stablecoin Open USD (OUSD) Goes Live With Plans to Take on Circle and Tether. Here's What Crypto Investors Need to Know.
This new stablecoin has an important twist that makes it likely to be very successful.
Overview
Open USD (CRYPTO: OUSD) is a brand new stablecoin backed by a syndicate of financial businesses, and it's already clear that its existence will have major implications for the stablecoin market. It launched Sept. 30, 2026, and its supply had reached $668 million by Oct. 2, adding hundreds of millions in value over the course of just a few days. It's in direct competition with the two leaders of the stablecoin market, the USDC (CRYPTO: USDC) stablecoin offered by Circle Internet Group (NYSE: CRCL), as well as Tether's (CRYPTO: USDT) stablecoin.
OUSD's backers are a who's who of financial heavyweights, including Stripe, Visa, Mastercard, and Coinbase, among many others; they earn rewards and equity tied to the supply and activity they drive. But why would these payment giants back a stablecoin that competes with coins they already support when they already profit from rival stablecoins? Here's what you need to know.
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Originally published at www.fool.com.