The launch of OUSD is essentially driven by Stripe's own B2B settlement needs. As for the 140 institutions, they're just there for show—don't take it too seriously. They don't care at all whether OUSD succeeds or not. Regarding that bit of treasury yield, I think it will eventually be returned to users in various forms. Trying to make money from this has zero chance. In terms of negative news, in the short term, it's definitely negative for CRCL, but in the long run, it's really not certain. Through Stripe's education, more people will use stablecoins, and the overall market is growing. The future still depends on application scenarios. It's not like there's no precedent—what happened to the President's USD1 and Tether's own son?

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