OUSD难以真正竞争_老虎社区_美港股上老虎 - 老虎社区

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OUSD难以真正竞争USDC，叙事蓝图过于宏大，仅靠收益分成无法突破USDC在合规、流动性上构筑的护城河，不存在取而代之的基础。

Mizuho：Clarity Act 长期或加剧稳定币竞争，对 Circle 构成负面影响

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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMizuho：Clarity Act 长期或加剧稳定币竞争，对 Circle 构成负面影响\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1041503808\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/64f0784cc29a0d0070f6e968ef6ec7f5);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">链捕手 </p>\n<p class=\"h-time\">2026-07-23 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>ChainCatcher 消息，Mizuho 分析师表示，若美国加密市场结构法案 Clarity Act 通过，虽然整体上可能利好数字资产行业，但对 <a href=\"https://laohu8.com/S/CRCL\">Circle</a> 而言，长期影响可能偏负面。其理由是，监管明确性将吸引更多大型机构进入稳定币市场，进一步加速稳定币商品化，并侵蚀 Circle 旗下 USDC 的收入空间。</p><p>Mizuho 认为，Circle 近期面临的主要压力来自 Open USD。该稳定币项目由 140 多家金融、科技和加密公司组成的联盟支持，成员包括 <a href=\"https://laohu8.com/S/V\">Visa</a>、Mastercard、Stripe、BlackRock 和 <a href=\"https://laohu8.com/S/COIN\">Coinbase</a>。与 Circle 保留约 38% USDC 储备收益的模式不同，Open USD 采用“pass-through”模式，将接近全部储备收益分配给分销方，仅保留少量管理费。分析师还指出，Coinbase 作为 USDC 最大分销方，同时也支持 Open USD，可能在未来与 Circle 重新谈判收入分成协议时获得更强议价权。双方分销协议最早可能在下个月重新谈判。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BLCK":"Corgi Crypto Infrastructure ETF","BKCH":"AdvisorShares Sabretooth ETF","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0106831901.USD":"贝莱德世界金融基金A2","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","IBLC":"iShares Blockchain and Tech ETF","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","CCUP":"T-REX 2x Long CRCL Daily Target ETF","CRCL":"Circle Internet Corp.","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU1861217088.USD":"贝莱德金融科技A2","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","CRCA":"Proshares Ultra CRCL","ICRC":"Bitwise CRCL Option Income Strategy ETF","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","CRCD":"T-REX 2X Inverse CRCLDaily Target ETF","BK4023":"应用软件","CRCG":"2倍做多CRCL ETF-Leverage Shares","CRCO":"YIELDMAX CRCL OPTION INCOME STRATEGY ETF"},"source_url":"https://www.chaincatcher.com/article/2277748","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2653979105","content_text":"ChainCatcher 消息，Mizuho 分析师表示，若美国加密市场结构法案 Clarity Act 通过，虽然整体上可能利好数字资产行业，但对 Circle 而言，长期影响可能偏负面。其理由是，监管明确性将吸引更多大型机构进入稳定币市场，进一步加速稳定币商品化，并侵蚀 Circle 旗下 USDC 的收入空间。Mizuho 认为，Circle 近期面临的主要压力来自 Open USD。该稳定币项目由 140 多家金融、科技和加密公司组成的联盟支持，成员包括 Visa、Mastercard、Stripe、BlackRock 和 Coinbase。与 Circle 保留约 38% USDC 储备收益的模式不同，Open USD 采用“pass-through”模式，将接近全部储备收益分配给分销方，仅保留少量管理费。分析师还指出，Coinbase 作为 USDC 最大分销方，同时也支持 Open USD，可能在未来与 Circle 重新谈判收入分成协议时获得更强议价权。双方分销协议最早可能在下个月重新谈判。","news_type":1,"symbols_score_info":{"IBLC":0.6,"CRCD":0.6,"CRCL":1.94,"CRCA":0.6,"CCUP":0.6,"ICRC":0.6,"CRCG":0.6,"BKCH":0.6,"BLCK":0.6,"CRCO":0.6}},"isVote":1,"tweetType":1,"viewCount":66,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":111,"optionInvolvedFlag":false,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/588732947956080"}