Analysts Skeptical on Open USD Stablecoin Despite 48% Bullish Poll
A poll showed 48% of voters bullish on the Open USD (OUSD) stablecoin, but an analyst warns that similar projects have failed to gain traction and partnership claims may be inflated.
A community poll on Open USD (OUSD) returned 48% bullish sentiment, 32% watching, and only 20% skeptical. However, our analyst sides with the minority, citing a history of similar stablecoin launches that failed to scale.
The project boasts a partnership list of over 140 names including Visa, Mastercard, BlackRock, and Coinbase. Yet Paxos ran a nearly identical model in 2024 and saw its stablecoin supply peak at roughly $3 billion — a fraction of USDC's $73 billion and USDT's $145 billion.
Further doubt comes from Korean firms Samsung, Shinhan, Dunamu, and K-Bank, who stated that talks with Open USD were never finalized, suggesting the partner count may be exaggerated. The analyst argues that the real competitive pressure will fall on Circle's margins, not incumbents like Tether.
Source: Cointelegraph