USDC: Circle Renews Coinbase Deal as Open USD Gains Weight
Coinbase sits on both sides of a slow stablecoin contest, while USDC’s liquidity and distribution moat remains the key barrier to a rapid shift.
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Coinbase sits on both sides of a slow stablecoin contest, while USDC’s liquidity and distribution moat remains the key barrier to a rapid shift.
The rating stays Outperform even as the target drops $50, framing Open USD as a sentiment shock rather than a structural threat to USDC's reserve income.