Coinbase (COIN) shares rose more than 11% on Wednesday. The company joined a partnership with over 140 firms to launch the Open USD (OUSD) stablecoin. Partners include industry leaders Visa and Mastercard. This initiative expands Coinbase's distribution network and creates new revenue-sharing opportunities from reserves.
Analysts believe the move strengthens Coinbase's role in digital asset infrastructure. However, OUSD may compete with the existing USDC stablecoin within the Coinbase ecosystem.
Coinbase also partnered with Spiko to facilitate stablecoin settlements for European investment funds. This partnership marks a significant regulatory step in the region. These developments support a strategy to transition from a crypto exchange into a comprehensive financial platform.