Payments giant Stripe has announced the launch of its own stablecoin, OUSD, marking a pivotal shift in the stablecoin market from competing on asset issuance to competing on network effects. OUSD is issued under the Open Standard framework and counts Visa, Mastercard, and Google among its initial partners, covering payments, internet access, and social platforms.
Unlike existing stablecoins, OUSD adopts a shared governance and revenue model, allowing partners to participate in protocol governance and share in ecosystem earnings. Stripe will set OUSD as the default stablecoin on its platform, integrating it directly into payment flows to leverage its vast merchant network and user base for rapid adoption.
Industry observers view this as a direct challenge to Circle, the issuer of USDC. By aligning with traditional finance and tech giants, Stripe aims to build a 'walled garden' in the stablecoin space, positioning OUSD as the new default infrastructure for global money movement rather than simply competing on market capitalization with USDT and USDC.
