《Circle CEO's Long Post on OUSD: Stablecoin Networks Are Long-Term Platform Businesses, USDC's Network Effect Is Hard to Replicate》 (Author: @jerallaire) Circle believes that stablecoin networks are long-term platform-driven infrastructures powered by network effects. USDC has built strong competitiveness through a multi-layered ecosystem, liquidity, and compliance framework. USDC has been integrated into thousands of services, with CCTP/Gateway enhancing interoperability. According to Artemis data, by Q1 2026, USDC's on-chain transactions are projected to reach nearly $30 trillion, accounting for 80%, while other USD stablecoins remain minimal. Regarding OUSD's free minting/redeeming and yield sharing, Circle points out that market realities are complex and require contract mechanisms to address; alliance models are inefficient, and win-win cooperation requires smaller, tighter partnerships. Read the full article: https://www.(wublock123.com)/articles/article-59175