The stablecoin wars just went nuclear. More than 140 companies — including Visa, Mastercard, BlackRock, Coinbase, Stripe, Google and Ripple — have banded together to launch Open USD (OUSD), a consortium-governed stablecoin taking direct aim at Tether’s USDT and Circle’s USDC. Circle’s share price dropped as much as 17% on the news. Here’s your reading list for the past 24 hours.
At the time of writing, BTC is trading around A$88,400 (US$61,000), up roughly 2.5% over 24 hours, and ETH around A$2,390 (US$1,650), up about 2.6% — per Yahoo Finance and Finnhub market data.
The stories that matter
1. Visa, Mastercard, BlackRock and 140+ firms launch OUSD stablecoin — Crypto Briefing, Yahoo Finance
Unlike USDC or USDT, OUSD is run by an independent company (Open Standard) governed by its partners, with businesses able to mint and redeem fee-free and reserve income shared among participants. Why it matters here: plenty of Australians hold USDC on local exchanges as their "parked" dollars. If OUSD gains listings, expect competition on stablecoin spreads and yields — and keep in mind none of these are AUD-denominated, so currency risk still applies.
2. Travel Rule reality check: every transfer, no minimum — CryptoSlate, crypto.news
Two days into AUSTRAC’s Travel Rule and the practical picture is clearer: there’s no minimum threshold — a $5 transfer gets the same sender/receiver data checks as a $50,000 one. Self-custody remains legal, but transfers touching a regulated exchange now trigger identity checks, and locals like Independent Reserve have already reworked their address books. Why it matters: expect slightly slower withdrawals and new prompts asking who owns the destination wallet. Answer accurately — mismatches can hold up transfers.
3. ASIC extends crypto licensing relief to 30 September — Chainalysis, The Market Periodical
After INFO 225 no-action relief lapsed at end of June, ASIC has reportedly extended temporary relief to 30 September 2026, while a Senate committee endorsed the bill bringing exchanges and tokenised custody under financial services licensing. Why it matters: your exchange isn’t about to be switched off mid-transition — but the licensing era is coming, and smaller platforms may not make the cut.
4. BTC reclaims US$60k after soft US jobs report — Yahoo Finance
The US added just 57,000 jobs in June, missing forecasts and firming rate-cut hopes; BTC popped ~4%. That’s the counterweight to June’s record ~US$4B in spot ETF outflows, which prompted Citi to cut its 12-month BTC target from US$112k to US$82k. Why it matters: the AUD often rallies on US rate-cut expectations, which can mute BTC’s gains in Aussie-dollar terms. Watch both numbers.
5. Metaplanet stacks another US$170M — cryptonews.com
Japan’s Metaplanet bought another US$170M of BTC, lifting its treasury to 43,000 BTC — now the world’s third-largest publicly traded holder. Why it matters: corporate treasuries keep buying dips even as ETF money exits — worth remembering when the headlines feel one-sidedly bearish.
6. ETH ETFs briefly out-pull Bitcoin‘s — JournalArta
Spot ETH ETF inflows outpaced BTC ETFs for two straight days last week, and Standard Chartered is holding a US$4,000 end-2026 ETH target (Citi says US$2,240). Why it matters: a staked-ETH ETF approval in the US would be the real catalyst — one to watch if you’re weighing up ETH exposure.
What to watch
July’s token unlock calendar is chunky — roughly US$1.9B, led by Hyperliquid (~US$630M, 6 July) and Rain (~US$812M, 11 July) — so expect volatility in alts. Locally, the AUSTRAC VASP registration window closes 29 July, and ASIC’s extended relief runs to 30 September.
If the exchange shake-out has you reviewing where you trade, our guide to the best cryptocurrency exchanges in Australia covers fees, features and Travel Rule readiness.
This is general information, not financial advice. Do your own research and consider your circumstances before making investment decisions. Some links on auscrypto.life are affiliate links — we may earn a commission if you sign up, at no extra cost to you.