TLDR Tech / Crypto
Circle CEO on Why OpenUSD Won't Unseat USDC
Circle CEO Jeremy Allaire addressed investor questions about OpenUSD (OUSD) by citing Artemis data showing USDC processed $30T in on-chain transactions in Q1 2026, 80% of all dollar stablecoin volume, with USDT at 20% and all other stablecoins combined below 0.5%. Allaire dismissed OUSD's three core propositions: free mint/burn is addressable through contractual arrangements rather than blanket fee waivers, distributing all revenue to consortium participants starves infrastructure investment, and consortium governance models have a poor track record for achieving product-market fit or operational agility. USDC's exclusive large-stablecoin availability across EU and Japanese regulated markets, paired with close to a decade of entrenched liquidity across exchanges, DeFi venues, and payment processors, gives Circle a structural position a new consortium entrant cannot replicate in the short term.
Read the full story