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ARK Invest CEO Cathie Wood said the firm’s research views stablecoins as monetary networks that become stronger as adoption grows, driven by trust, collateral use and integration across financial platforms.
Wood said those network effects have helped Tether’s USDT and Circle’s USDC establish dominant positions in the stablecoin market.
Referring to research by Director of Digital Assets at Arc Invest, Lorenzo Valente, she said newer entrants such as Open USD (OUSD) are unlikely to overtake market leaders.
In @ARKInvest’s view, stablecoins are monetary networks with effects that compound over time, thanks to trust, collateral utility, and integrations. The network effects of USDT and USDC have been powerful. @LorenzoARK explains convincingly why OUSD is unlikely to displace them. https://t.co/qEUimwpsiK
— Cathie Wood (@CathieDWood) July 9, 2026
Open Standard, led by Stripe-owned Bridge co-founder Zach Abrams, introduced OUSD late last month.
The stablecoin is supported by more than 140 companies, though Samsung Electronics, Shinhan Financial Group and other South Korean companies said they never formally agreed to participate in the consortium.
Launch backers like BlackRock, Visa, Stripe, Google, Coinbase and DBS said the initiative aims to lower the cost of stablecoin adoption by removing issuance and redemption fees, sharing most reserve income with participants and establishing independent governance. OUSD is expected to launch later this year and is intended to reduce reliance on centralized issuers while expanding institutional access.
The announcement comes as competition in the stablecoin market intensifies. The sector has grown to nearly $308 billion, and major payments companies have stepped up investment through acquisitions and new blockchain-based settlement services.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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