Back when DeFi was booming, USDC's issuance volume almost caught up with USDT's. But after the Silicon Valley Bank incident, its market share has never fully recovered. This time, the growth opportunity in RWA is bigger than DeFi's, so there's still a good chance to catch up. OUSD and USDC aren't exactly direct competitors—Stripe's main business is still payments, and its audience doesn't overlap much with the crypto crowd. It's similar to PYUSD, but can be seen as an upgraded version of PYUSD+USDG. Ultimately, it's targeting a growth market, so the issuance scale of other stablecoins won't decrease much. We're not at the stage of competing for existing market share yet.