Executives at Coinbase, Visa and Mastercard said they plan to support multiple stablecoins, suggesting Open USD is another payments rail rather than a direct replacement for USDC. The launch of Open USD, backed by Coinbase, Visa and Mastercard, initially sparked fears of a direct challenge to Circle’s USDC and wiped billions from Circle’s market value. Executives at Coinbase, Visa and Mastercard now say they are pursuing a multi-stablecoin, multi-chain strategy, positioning Open USD as an addit…
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