[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio59fffde5":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio59fffde5","Open-USD问世或颠覆稳定币生态！麦格理：Visa与万事达卡“通道”变“主人”，Circle及Tether承压","\u002Fdoc\u002Fdcio59fffde5","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，麦格理(Macquarie)周二发布报告称，Open USD稳定币的正式亮相对Visa(V)和万事达卡(MA)构成结构性利好。该稳定币目前已签约超过140家合作伙伴，生态版图迅速扩张。麦格理对Visa和万事达卡均给出“跑赢大盘”评级。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">分析师Paul Golding在给客户的报告中指出“两大卡网络不再仅仅是支持第三方稳定币，而是直接参与稳定币生态，在此过程中既能影响治理方向，也有望分享代币本身的经济收益——而不仅仅局限于法币出入金通道带来的收入。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Open USD的核心设计原则有几点它支持零成本铸造与赎回，企业可免费铸造和赎回OUSD，且无规模上限。这直接对标Circle USDC和Tether USDT收取的铸造\u002F赎回费用，与发行方攫取的模式形成鲜明对比。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Golding认为，这可能对Circle旗下USDC和Tether的商业模式构成压力，同时PayPal旗下的PYUSD市场地位也可能进一步边缘化。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Open USD还将储备资产收益返还给生态参与者。底层美国国债储备所产生的几乎所有利息，在扣除少量管理费后返还给参与企业。而现有模式下，发行方(如Circle)保留绝大部分储备利息收入——根据Circle申报文件，这一来源占其2024年收入的99%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">此外，Open USD采用集体治理，由合作伙伴共同治理，而非由单一公司掌控。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Open Standard临时CEO Zach Abrams表示“现有的稳定币有其优势，但要大规模使用，企业需要的是开放、低成本、高吞吐量、广泛可及且与其利益一致的方案。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">这一模式直接复刻了2019年Facebook(现Meta)Libra项目的某些元素——当年Visa、万事达卡和Stripe也曾支持该项目，但在监管压力下数月内退出。不同的是，如今美国的GENIUS法案已为稳定币建立了更为成熟的监管框架。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">市场已迅速作出反应。周二常规交易时段，Circle股价暴跌18% ，盘后继续下挫0.7%;PayPal股价下跌2.7% ，盘后再跌0.4%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Golding进一步指出“随着Open USD规模扩张，机构参与者将有财务动机将业务活动导向共享经济模型，这可能对当前由发行方主导的稳定币格局形成竞争性挑战。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">他同时强调，Open USD在合作伙伴招募上的成功为其前景奠定良好基础，并有望加速稳定币的整体采用进程。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">“来自银行、卡网络、商户、金融科技公司及加密企业的广泛支持表明，稳定币正日益被视为全天候资金流动的基础设施——用于支付、结算及财资管理，而不再仅仅是加密交易的辅助工具。”Golding写道。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">此外，Paul Golding指出，Open USD对Visa和万事达卡构成结构性利好。原有模式下，两大卡网络仅仅是稳定币的“法币出入金通道”——用户将法币兑换为稳定币时，卡网络赚取的是交易手续费，处于生态的边缘位置。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">新模式下，Visa和万事达卡直接参与稳定币生态的治理和经济分配——不仅能影响OUSD的治理方向，还能分享储备收益，而不仅限于法币出入金收入。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Visa首席产品与战略官Jack Forestell表示“随着稳定币更深层次地融入全球金融体系，治理、互操作性和信任将至关重要。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">此外，Visa、万事达卡和Stripe这些历史上的竞争对手正在合作使用Open USD标准化结算流程，这种共享基础设施有望大幅简化操作、降低成本。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯,推荐美股大数据 \u003Ca 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]