Loading ...Today (06/30/26)- THREAD, more than 140 companies, most of which compete fiercely with one another, agreed to back the same stablecoin.
The vehicle is @openstandard, a new and deliberately independent company launching Open USD, or OUSD, and positioning it not as anyone’s product but as neutral infrastructure for payments, trading and the internet economy.
https://x.com/ccatalini/status/2071986034016174227
Circle CEO Jeremy Allaire defended USDC’s network effects after Coinbase joined Visa, Stripe, Mastercard, and others in the 140+ firm Open Standard consortium behind rival stablecoin Open USD.
https://x.com/TheBlockCo/status/2072298033157435822
I’ve been ASKING (on X) if stablecoins are a solution. No answers yet.
Eurodollars (xenodollars) are FIAT created beyond the Fed’s regulatory reach.
They were first created when the Soviets needed dollars and dollar accounts.
(I worked in a machine shop in 1973 and remember Gleason Works sending auto machining equipment to USSR’s Kama River plant. Shipped through Canada, by the way. How did they pay? Eurodollars.)
How can the US control creation of currency (INFLATION!) outside its financial jurisdiction?
Bessent has been thinking about that.
Yesterday someone posted (or a video revealed) that STABLECOINS are being introduced as the new financial backbone BECAUSE they can do everything that a CBDC can do — individual transactions / accounts can be identified, isolated, confiscated, controlled –that they can be emptied or shut down by central actions. Essentially the same way that CBDC’s can be used but via the blockchain and without having the jump through the political hoops required to gain CBDC approval.
Unfortunately, I review so many articles/videos that I can’t remember where exactly it was posted. It was a very deep explanation of the “mechanics” of how the above is accomplished…..and how it has already been tested by US (perhaps on Iran – not sure).
TPTB can say they are not implementing CBDC’s while implementing the exact same abilities via Stablecoin.