New Stablecoin Open USD (OUSD) Goes Live With Plans to Take on Circle and Tether. Here’s What Crypto Investors Need to Know.
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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