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Bernstein has identified OUSD as potentially the strongest new challenger to the Circle-Tether stablecoin duopoly, even as Circle's chief executive moved to underscore USDC's network advantages.
The research firm tempered its assessment by flagging unresolved questions around OUSD's governance, operations, and revenue sharing.
Bernstein's OUSD Assessment Bernstein's framing is significant: calling OUSD the strongest prospective challenger to the Circle-Tether pair places it above prior contenders that attempted to erode the two incumbents' combined grip on the stablecoin market.
The firm stopped short of a full endorsement, however.
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