How OpenUSD Threatens the Dominance of USDT and USDC

The new stablecoin backed by the US dollar and launched by OpenStandard is changing the approach to governance and issuance of coins in this market. OpenUSD has attracted attention due to backing from 140 of the world's largest companies, including Visa, Mastercard, and Coinbase. It is expected that OpenUSD, launching at the end of 2026, will offer zero fees for minting and redemption, unlike competitors USDC and USDT.

The Role of OpenStandard in Changing the Stablecoin Market

OpenStandard aims to rethink the management approach of stablecoins. Unlike coins issued by single companies such as Circle, OpenUSD is managed by a consortium of partners. This allows for decisions to be made in "collective interests," which promotes broader acceptance of the coin.

"Partner governance allows stablecoins to evolve into the future," said Mark Boyron, CEO of Polygon Labs.

OpenUSD offers an alternative to current leaders by leveraging its governance structure and reserve distribution.

The Reserve Economic Model and Its Incentives

Unlike models from Circle or Tether, OpenUSD offers revenue distribution among all partners. This provides more attractive conditions for large companies, such as Google and Samsung, which can utilize this revenue in their business processes.

Radia El Heij, CEO of RS2, noted that such revenue distribution is only possible with significant transaction volumes. This indicates that consortium members are confident in the quick expansion of the stablecoin.

The Significance of OpenUSD for the Market

The implementation of OpenUSD promises to open new possibilities for the use of stablecoins by both businesses and consumers. The absence of minting and redemption fees makes the coin more accessible, which may encourage its adoption among merchants and companies.

A recent report from MNEE Pay showed that 62% of American stablecoin holders converted them back to US dollars due to their inability to be used as payment. OpenStandard could change this by creating a network allowing OpenUSD to be used as a means of payment.

Regulatory Aspects and Challenges

OpenStandard seeks to ensure full compliance with new regulatory requirements both in the US and Europe. In particular, in the US, compliance with the GENIUS Act is upheld. For the successful distribution of OpenUSD, the consortium must consider all nuances of global regulation.

Ron Tarter, CEO of MNEE Pay, noted that leading companies like BlackRock and Coinbase, capable of acting swiftly in the crypto ecosystem, provide OpenUSD with a real opportunity to compete with powerful leaders like USDT and USDC.

Tasks and Prospects

OpenStandard will need to quickly launch and implement OpenUSD to meet the future demand for a tool that stimulates the use of stablecoins as a means of payment. With the right strategy, OpenUSD can compete with major market players.

"In the rapidly evolving world of digital assets, speed matters," summed up Tarter.

If the consortium and its members can successfully implement their initiative, OpenUSD may become a significant competitor to current market leaders.