Stripe challenges Circle with bank-backed Open USD stablecoin
Stripe is bidding to overturn the dominance of Tether and Circle via the launch of Open USD, a new stablecoin backed by 150 companies including major banks, amid growing friction with Circle generated by the payment company’s burgeoning digital assets business.
The new dollar-backed stablecoin is set to launch later this year under the auspices of Open Standard, an independent company with a board made up of the coin’s users, with 150 firms signed up from launch.
