One thing that stood out to me about the OUSD announcement is that it’s not trying to reinvent stablecoins, rather it’s trying to reinvent who gets paid.
This has been the model:
» People hold stablecoins.
» Issuers invest the reserves into short-term U.S. Treasuries.
» Issuers keep almost all the yield.
$OUSD is saying: 𝐖𝐡𝐚𝐭 𝐢𝐟 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐛𝐫𝐢𝐧𝐠𝐢𝐧𝐠 𝐭𝐡𝐞 𝐮𝐬𝐞𝐫𝐬 𝐚𝐧𝐝 𝐩𝐚𝐲𝐦𝐞𝐧𝐭 𝐯𝐨𝐥𝐮𝐦𝐞 𝐬𝐡𝐚𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐚𝐭 𝐢𝐧𝐜𝐨𝐦𝐞 𝐢𝐧𝐬𝐭𝐞𝐚𝐝?
That's why seeing names like @stripe, @Visa, @BlackRock, @coinbase, and other companies behind it caught my attention.
If payment networks can earn a share of the Treasury yield, suddenly choosing a stablecoin isn't just a technical decision anymore but a business decision.
To me, that's the real story here and not just "another stablecoin."
A potential shift in where the economics of the industry flow.
OUSD still has to prove it can attract real payment volume, and USDC/USDT aren't losing their network effects overnight.
But if this model gains traction, the strongest advantage in stablecoins may not come from issuing the asset alone.
It could come from controlling the distribution, the payment flows, and the customer relationships.
