Polygon Foundation CEO Sandeep Nailwal announces OUSD integration with Polygon network

The post Cathie Wood Warns Ripple-Backed OUSD May Not Challenge USDT, USDC appeared on BitcoinEthereumNews.com. Cathie Wood has said Ripple-backed OpenUSD may struggle to challenge USDT and USDC, even with major corporate names behind it, because stablecoin markets depend on liquidity, trust, collateral use, and daily platform integration. ARK Says Stablecoin Moats Are Built on Use According to the ARK Invest CEO, stablecoins are like the monetary networks that evolve with increasing adoption by user bases, exchanges, wallets, and payment companies. She added that USDT and USDC have already established robust network effects in the crypto trading and payments space and DeFi. In a research note, ARK Invest Director of Digital Assets Lorenzo Valente suggested that OUSD’s odds of supplanting the two biggest stablecoins are low. In his blog post “Why USDT and USDC are harder to kill than crypto Twitter thinks”, Valente also cautioned that many market participants may be overly optimistic a

The post Polygon News: PayPal Partners With Polygon to Boost PYUSD Stablecoin Adoption appeared on BitcoinEthereumNews.com. PayPal launches PYUSD stablecoin natively on Polygon, helping businesses make faster, regulated global payments through the new Open Money Stack platform. PayPal has expanded its blockchain payment strategy through a new partnership with Polygon. The company has introduced its stablecoin PYUSD natively on the Polygon network. As a result, businesses can make faster and lower-cost global payments. Additionally, the launch links PYUSD with Polygon’s Open Money Stack to facilitate regulated cross-border transactions. PayPal Launches Native PYUSD on Polygon for Global Payments PayPal USD (PYUSD) is a stablecoin backed by the U.S. dollar and issued by Paxos. The stablecoin is regulated by the Office of the Comptroller of the Currency (OCC). Now, businesses can directly use PYUSD on the Polygon blockchain. NEW: @PayPal USD (PYUSD) is now issued natively on Polygon Chain

OUSD's struggle to surpass USDT and USDC highlights the challenges new stablecoins face in gaining trust and market dominance amidst fierce competition. The post Cathie Wood says OUSD unlikely to displace USDT and USDC appeared first on Crypto Briefing.

Samsung has distanced itself from the founding consortium behind the proposed OUSD stablecoin after being named among more than 140 partners announced for the project. According to a report by Chosun, several South Korean companies listed as founding members of…

Upbit said it only expressed interest in potentially joining the OpenStandard ecosystem in the future, as several South Korean firms distanced themselves from the OUSD initiative.

The denial by major firms highlights potential challenges in securing credible partnerships, impacting the perceived stability and trust in OUSD. The post Samsung, Shinhan, Dunamu deny joining OUSD stablecoin alliance: Report appeared first on Crypto Briefing.

Several major South Korean companies have said they were listed as members of the Open USD (OUSD) stablecoin alliance despite not formally agreeing to participate. According to a report by Chosun Biz, several Korean companies named as participants in the…

The launch of the Ripple-backed Open USD (OUSD) stablecoin has been overshadowed by a suspected fake issuer account that XRP Ledger validators have warned users not to trust. Validators say the listed OUSD issuer cannot be verified According to XRP…