Open USD’s Biggest Challenge Isn’t Circle or Tether, It’s History

Institutional memory tends to go out the window when covering crypto’s innovations. But the Tuesday (June 30) announcement that more than 140 companies spanning the payments, banking, asset management and cryptocurrency infrastructure spaces have joined a consortium called Open Standard to launch Open USD, or OUSD, a dollar-backed stablecoin, should have had at least some stakeholders feeing a sense of déjà vu. The launch is being positioned as a challenge to the concentrated economics of incumb