OUSD stole Hyperliquid’s homework — then hit Circle with it
OUSD, which borrows heavily from Hyperliquid’s USDH playbook, is a new stablecoin that a consortium of more than 140 companies will operate.
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OUSD, which borrows heavily from Hyperliquid’s USDH playbook, is a new stablecoin that a consortium of more than 140 companies will operate.
Read more (3 min) →Any US bank or fintech company that receives USDC instead of dollars will need to file timestamped records of every transaction.
Circle's USDC has made substantial gains in 2025 across several metrics against its main stablecoin competitor, Tether's USDT.
Circle's rise after its IPO on its first day of trading is a contrast to Coinbase, which fell on its first day of trading.
Circle and Tether, the two largest stablecoins, have adopted different tactics when it comes to the management of their reserves.
Circle has filed to go public and admits that it is 98% less profitable than Tether despite sharing a similar business model.