OUSD Shakes the Stablecoin Market: Is the Core Plan Still Veiled? Circle in Crisis Ahead of Re-contract with Coinbase

Summary

Choi Yun-young, Team Leader at Hanwha Investment & Securities, analyzes the recent OUSD stablecoin consortium and its impact on Circle's stock and USDC. He argues the market's sharp reaction to OUSD is likely overdone, though adoption details remain uncertain. The conversation also highlights Securitize (NYSE: SEZ) as a compelling pure-play RWA tokenization stock, citing its regulatory standing, expanding infrastructure, and strong listing demand.

• OUSD is a new consortium-type stablecoin with 149 participants sharing reserve interest, raising questions about Circle's business model.
• Circle's stock fell sharply on the news, but Choi views the move as a likely temporary overreaction.
• The upcoming Circle–Coinbase re-contract in August is a key watch; Choi expects renewal despite possible negotiation pressures.
• Securitize (SEZ) listed on the NYSE as the first publicly traded tokenization infrastructure company.
• Choi sees Securitize as the best current investment vehicle for RWA growth, given its compliance edge and direct equity structure.
• RWA tokenization is expanding from US Treasuries to equities and beyond, with Securitize well-positioned to capture the value.
• The speaker emphasizes that tokenization infrastructure builds a clear moat, and Securitize's aggressive moves signal strong growth potential.