BREAKING 🚨

Visa, Mastercard, Google, BlackRock, Coinbase, and over 140 other companies just launched Open $USD, a new stablecoin built to break the entire economic model behind Circle and USDC.
Here is the mechanism. Every existing stablecoin issuer, Circle included, keeps the interest earned on its reserves. That is the entire business. Billions in float, parked in Treasuries, generating yield that goes straight to the issuer's bottom line.
Open $USD flips that completely. Zero fees to mint or redeem, no volume caps, and nearly all the reserve income gets shared back with the partner companies actually distributing the coin. Stripe, Visa, Coinbase, and everyone else in the consortium now has a direct financial incentive to push $OUSD volume, because they get paid for it.
The market understood the threat instantly. Circle's stock dropped over 12% within hours of the announcement, falling to a four month low.
This is not a crypto-native stablecoin trying to compete on hype. This is the actual payment rails of the global economy, Visa, Mastercard, BlackRock, deciding the current stablecoin model leaves too much money on the table and building their own alternative to capture it.
Stripe already confirmed Open USD will become its default stablecoin. DoorDash is in. Shopify is in. Google is in.
Tether and Circle just got put on notice by the companies that actually move the world's money.