Crypto Scenario Insights
What happened
Over 140 companies, including BlackRock, Visa, and Coinbase, have announced 'Open USD', a stablecoin designed to remove issuer-centric fee structures and reserve-interest capture.
What we think
The launch of Open USD is a major structural challenge to the current stablecoin industry, with a 50% probability of a bearish outcome for incumbent issuers like Circle.
Read the analysis
Open USD Launch: Structural Disruption or Stablecoin Market Saturation?
We explain what happened and what could follow. We do not forecast prices.