Competition among stablecoins is shifting from scale to “who gets a share of the earnings.” According to a report by CoinDesk today, Circle said it retained about 7 cents in net profit for every dollar of revenue in the first half of 2026. Its largest USDC partner, Coinbase, also supports the competing Open USD network. My view: whether distribution channels are willing to promote a stablecoin and whether redemptions are reliable matter more than simply comparing yields. A larger revenue share does not mean lower risk—someone still has to bear the costs of compliance, liquidity, and the ability to honor redemptions. Focus on real-world payment use, rather than treating industry growth as an automatic boon for tokens.
Source: CoinDesk, October 18. #稳定币 #USDC