Regulation· ★★★★· neutral·

Brazil's CADE clears Coinbase, Visa, Mastercard, Shopify and Stripe stablecoin venture

  • —CADE reviewed the deal under a fast-track procedure and found no market concentration risk in Brazil
  • —Open USD will be pegged to the US dollar and aimed at internet commerce payments
  • —The project targets Solana, Ethereum, Base and Tempo and over 140 commercial partners
  • —Founders will keep offering rivals such as USDC on Coinbase and Visa
Why it matters: A consortium of major payments and crypto firms is taking on Tether and Circle, which together control more than 90% of the stablecoin market.
#USDT#USDC
Source: Livecoins
More on this
Exchanges · Sep 30
Coinbase, Visa, Mastercard, Stripe and Shopify become founding partners of Open Standard, commit $1B to OUSD
 Regulation · Sep 23
SEC Clears ARK Venture Fund for Tokenized and Exchange-Traded Share Classes
 Exchanges · Oct 12
Stripe, Mastercard and Circle agree to pay up to $3.3B for stablecoin operators