OpenUSD (OUSD) launched on September 30th across multiple blockchains with backing from Coinbase, Stripe, Mastercard, and Visa, challenging the dominance of USDT and USDC in the stablecoin market. The new dollar-backed token shares yield with partners and will be integrated into Stripe's core products, potentially threatening USDC's 54% market share in regulated payment rails.
Monthly stablecoin card spending reached a record $788.9 million in September, growing nearly 49x since early 2025. USDC dominates the stablecoin cards segment with 57% market share, while USDT leads overall stablecoin activity globally. The growth reflects stablecoins expanding beyond trading into everyday payments, though concentration risks exist around infrastructure providers like Rain.