OpenUSD Rattles Circle, but Stablecoin Network Faces Long Road
A Stripe- and Coinbase-backed consortium has spooked Circle investors, yet analysts warn that winning real adoption is far harder than lining up marquee partners.
Clara Schmidt
Germany Editor · Berlin
A new stablecoin effort dubbed OpenUSD, backed by payments giant Stripe and crypto exchange Coinbase, has emerged as a credible challenge to Circle's core business — but analysts caution that turning big-name backing into broad usage will be a slow, difficult climb, according to reporting by CoinDesk.
The consortium's arrival was enough to weigh on Circle's stock, underscoring how investors view any serious competitor to the company's USDC franchise. Yet the same analysts cited by CoinDesk argue that the market reaction may have outpaced the practical threat, at least in the near term.
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