Breaking news: According to Bloomberg, dozens of financial companies like @Visa, @Stripe, @Mastercard, @BlackRock, and @Coinbase are launching a new stablecoin called OUSD to share revenue among partners. CRCL paved the way, and now traditional finance is swooping in to reap the rewards. So brutal. But honestly, what’s Circle’s moat here? This new stablecoin didn’t involve Binance or other CEXs, nor did it play on-chain. For now, does that mean they’ve left some territory untouched?