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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting the growing institutional embrace of digital assets, reports indicate that BlackRock, Coinbase, Ripple, Mastercard and over a dozen financial firms have partnered to launch a new stablecoin called OUSD. According to reports, the token distributes reserve earnings to participating institutions through a shared governance model, marking a shift in stablecoin ownership structure.
The launch comes amid intensifying competition in the stablecoin market, currently dominated by USDC and USDT. The involvement of heavyweight names could boost the sector's credibility, particularly as the revenue-sharing model may attract further institutions. Per market data, BlackRock closed at $950.17 (June 29), Coinbase at $151.65, and Mastercard at $511.25 (June 30).
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Sign InTraders are now focusing on potential U.S. regulatory developments for digital currencies, which could shape the stablecoin landscape. Upcoming Federal Reserve interest rate decisions also remain in focus as they affect risk appetite in the crypto space. Support and resistance levels for the involved companies' stocks are being closely monitored amid these developments.