Circle defends USDC as rivals offer better profit-sharing to partners
- Coinbase, a major partner of USDC, supports Open USD, a competing network.
- Open USD provides reserve income to its partners after deducting a management fee.
- Circle emphasizes the economic stability and transparency of USDC amid rising competition.
- The move by Coinbase indicates growing interest in alternative stablecoin options.
As competition increases, Circle is highlighting the benefits of USDC while facing pressure from rivals like Open USD that offer higher profit-sharing incentives to partners.
With Coinbase backing Open USD, the dynamics in the stablecoin market may shift significantly as partners evaluate their options for revenue sharing. (Source)
