OUSD Is the Stablecoin Behind Stripe, and Coinbase Owns a…
By Tobi Opeyemi Amure
AI summary of the source article
Stripe has integrated the Open USD (OUSD) stablecoin across its infrastructure, with Coinbase, Mastercard, Shopify, Stripe, and Visa holding equal stakes. Meanwhile, Circle paid 62.2% of its Q3 reserve income toward distribution and transaction costs.
Why it matters
The text states that "the threat is to the price Circle pays for distribution rather than to USDC’s existence."
Key facts
- Circle paid $409.2 million in distribution and transaction costs against $657.6 million of reserve income in the third quarter.
- Stripe integrated OUSD across its infrastructure, covering Treasury balances, card issuing, and payouts to over 160 countries.
- OUSD launched on September 30 with Coinbase, Mastercard, Shopify, Stripe, and Visa committing over $1 billion to seed liquidity as equal owners.
Source excerpt · FinanceFeeds
Circle’s third-quarter accounts, published on Wednesday, show the company paid $409.2 million in distribution and transaction costs against $657.6 million of reserve income. That is 62.2% of what USDC earned going to the partners who hold and move it, leaving Circle $248.5 million. The same week, Stripe’s developer documentation quietly confirmed what its payment rails now run on. Stripe lists OUS…