CoinShares said Open USD is mounting a direct challenge to Circle by sharing revenue generated from stablecoin reserves with partners, a structure the digital asset manager says weakens the distribution economics behind USDC. According to CoinShares, the Open USD effort includes more than 140 companies, among them BlackRock, Coinbase, Mastercard, Stripe and Visa. The stablecoin is expected to launch in the second half of 2026. At the same time, CoinShares noted that USDC still holds an advantage that may be difficult for new entrants to match. Its existing liquidity base and integrations already give it a level of market presence that newcomers may struggle to replicate, even as Open USD adds competitive pressure.
Digital asset manager CoinShares said Open USD is directly challenging Circle by distributing revenue generated from stablecoin reserves to partners, a model it said weakens the distribution economics of USDC.
According to CoinShares, Open USD brings together more than 140 companies, including BlackRock, Coinbase, Mastercard, Stripe and Visa. The stablecoin is expected to launch in the second half of 2026.
CoinShares also said that while Open USD creates competitive pressure, USDC's existing liquidity and integration base may be difficult for a new entrant to replicate.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
