OpenUSD stablecoin consortium threatens Circle's model but faces steep adoption battle

The Stripe- and Coinbase-backed OpenUSD stablecoin consortium has been identified as a genuine threat to Circle's business model, causing Circle's stock to fall. However, analysts warn that building a functioning network is far harder than assembling high-profile partners. Circle remains the dominant player in the stablecoin market, and OpenUSD still faces a steep uphill battle for adoption.