Stripe Launches OUSD: Stablecoin Competition Shifts from Assets to Networks, Challenging Circle

Stripe Launches OUSD: Stablecoin Competition Enters the Network Era

Payment giant Stripe has officially launched the OUSD stablecoin, issued by Open Standard, drawing significant industry attention. This marks a shift in stablecoin competition from asset-level rivalry to network-level dominance — the player with the strongest payment ecosystem and partnerships will control the future of global money movement.

OUSD Partners and Governance Model

OUSD boasts a formidable alliance: Visa, Mastercard, and Google are all partners. The stablecoin adopts a shared governance and revenue model, and Stripe has made it the default stablecoin on its platform, deeply integrated into its payment infrastructure. Analysts see this as a direct challenge to Circle (issuer of USDC), as Stripe aims to reshape the global money movement infrastructure through OUSD.