Visa, Mastercard, and Coinbase Consortium Launches Global Stablecoin Open USD
On June 30, 2026, a consortium of over 140 companies including Visa, Mastercard, Coinbase, BlackRock, and Stripe launched Open Standard, a joint venture to issue a U.S.-dollar-pegged stablecoin called Open USD. The initiative aims to accelerate global digital token adoption by offering zero-cost minting and redemption with no volume limits, sharing reserve earnings among partners. It follows the U.S. GENIUS Act establishing federal stablecoin rules. Open USD is expected to go live later in 2026, targeting business payments and cross-border transactions.
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Banks, Card Networks, and Fintechs Partner on Low-Cost Stablecoin Open USD
More than 140 businesses, including major banks (BNY, U.S. Bank, Huntington, Citizens), fintechs (Chime, Stripe), cryptocurrency firms (Coinbase, Ripple), and credit card networks (Visa, Mastercard, American Express), launched the Open USD stablecoin through a consortium called Open Standard. The stablecoin, led by Bridge CEO Zach Abrams, aims to address prohibitive minting and redemption fees, share reserve earnings among partners, and run on a collaborative governance model. It is pegged one-to-one with fiat currency and promises near-instant cross-border settlement. The initiative follows the U.S. Genius Act, which provides a stablecoin regulatory framework. BNY projects $1.5 trillion in stablecoin value by 2030. Stripe, which acquired Bridge for $1.1 billion, will make Open USD its default stablecoin for partner businesses. The stablecoin is expected to go live later in 2026.
Yahoo FinanceVisa, Mastercard, Coinbase and BlackRock Unite Behind Open USD (OUSD): The First Real Threat to USDT and USDC?
A consortium of over 140 major financial and technology firms, including Visa, Mastercard, Stripe, BlackRock, BNY, Coinbase, Google, IBM, Ripple, and Standard Chartered, has launched Open USD (OUSD), a new stablecoin operated by Open Standard. OUSD introduces a revenue-sharing model where most reserve income is distributed to participating businesses, directly challenging the issuer-keeps-the-float model of Tether (USDT) and Circle (USDC). Circle's stock dropped 13% on the news. The launch marks a notable return by Coinbase to multi-party stablecoin governance after its previous joint venture with Circle ended in a buyout. Ripple, which operates its own RLUSD stablecoin, has also joined as an integration partner. Industry analysts view the consortium model as a potential game-changer for stablecoin competition, dependent on real payment adoption and merchant usage.
Yahoo FinanceBlackRock, Google Join Banks and Crypto Firms in Backing New Stablecoin
A consortium backed by major firms including BlackRock, Google, and Coinbase announced the launch of a new dollar-backed stablecoin called Open USD. The stablecoin will be available later in 2026 on Coinbase-affiliated blockchain Base, as well as Solana and other networks. Over 140 companies, including payment giants Visa, Stripe, and Mastercard, have agreed to use the stablecoin. This development follows the signing of the Genius Act by President Trump in 2025, which established a regulatory framework for dollar-pegged cryptocurrencies. The largest existing stablecoins, Tether's USDT and Circle's USDC, together command a market cap of approximately $260 billion.
Yahoo FinanceAptos, Visa, BlackRock Among 140 Firms Launching Open USD Stablecoin
A coalition of over 140 major companies, including Aptos Labs, Visa, Mastercard, Coinbase, BlackRock, Google, and Solana, has launched 'Open USD,' a new stablecoin developed by Open Standard. The stablecoin aims to address high costs and access barriers in global payments, offering businesses zero-cost minting and redemption with no volume caps. Partners receive all earnings from the stablecoin's reserves, minus a small management fee. Governance is collaborative through a board composed of Open USD partners, rather than a single entity. The initiative spans payment networks, global banks (e.g., BNY, Standard Chartered, DBS), technology firms (Samsung, IBM, Shopify), and crypto-native organizations (Aave, Fireblocks, Ripple). The launch reflects growing stablecoin adoption and enterprise-scale infrastructure development.
Yahoo FinanceDozens of Major Companies Become Open USD Launch Partners
A coalition of over 140 major companies, including Blackrock, Coinbase, Mastercard, Stripe, and Visa, have partnered to launch Open USD (OUSD), a new stablecoin governed by an independent entity called Open Standard. The stablecoin will allow businesses to mint and redeem without fees or volume caps, returning most reserve earnings to participating partners minus a management fee. OUSD's governance model differs from most stablecoins by placing decision-making with a board of partner businesses rather than a single issuer. The inaugural partner list includes banks (BBVA, BNY, DBS, Standard Chartered), crypto-native players (Aave, Coinbase, MetaMask, Morpho, Solana), payments giants (American Express, Mastercard, Visa), and tech platforms (DoorDash, Google, Shopify). Stripe announced it will make OUSD the default stablecoin for businesses on its platform, while Coinbase confirmed OUSD will launch on Base and other chains later in 2026.
Yahoo FinanceDozens of Major Companies Become Open USD Launch Partners
A coalition of over 140 major companies, including BlackRock, Coinbase, Mastercard, Stripe, and Visa, have partnered to launch Open USD (OUSD), a new stablecoin governed by the independent entity Open Standard. OUSD will allow businesses to mint and redeem the stablecoin with no fees or volume caps, returning most reserve earnings to partners minus a management fee. The stablecoin's governance is managed by a board of partner businesses to prevent single-entity control. Partners span banks (BBVA, BNY, DBS, Standard Chartered), crypto-native players (Aave, Coinbase, MetaMask, Solana), payments giants (American Express, Mastercard, Visa), and tech platforms (DoorDash, Google, Shopify). Stripe plans to make OUSD its default stablecoin for business transactions, while Coinbase announced OUSD will launch on Base and other chains. Open USD is expected to go live later in 2026.
Yahoo FinanceConsortium Including Visa and Mastercard Launches New Global Stablecoin
A consortium including payments giants Visa and Mastercard has jointly launched a new global stablecoin, according to The Business Times. The initiative is designed to increase the usage of digital tokens worldwide by addressing key hurdles that businesses face in scaling stablecoin adoption. The consortium's Open Standard platform will issue a new US-dollar pegged stablecoin called Open USD, which is expected to go live soon. The move marks a significant step by major financial infrastructure players to enhance the accessibility and efficiency of digital currency for global commerce.
The Business TimesVisa and Mastercard Consortium Launches New Global Stablecoin Open USD
A consortium including major payment networks Visa and Mastercard has jointly launched a new global stablecoin aimed at increasing the usage of digital tokens worldwide. The initiative specifically addresses the hurdles that businesses face in scaling stablecoin adoption. The consortium, named Open Standard, will issue a new US-dollar pegged stablecoin called Open USD, which is expected to go live. The move represents a significant step by traditional financial infrastructure players into the cryptocurrency and digital payments space, targeting enterprise and business use cases rather than retail speculation. The stablecoin is designed to provide more efficient cross-border payments and integrate with existing payment systems.
The Business TimesVisa, Mastercard, and Coinbase Consortium Launches New Global Stablecoin Open USD
On June 30, 2026, a consortium including Visa, Mastercard, and Coinbase launched a new joint stablecoin venture called Open Standard. The initiative brings together over 140 businesses to issue a U.S.-dollar-pegged stablecoin named Open USD, expected to go live later this year. The stablecoin aims to accelerate global digital token adoption by addressing scaling hurdles, offering zero-cost minting and redemption with no volume limits. Earnings from the token's reserve backing will be shared among partners, minus a management fee. The launch follows the U.S. GENIUS Act signed by President Trump, establishing federal rules for stablecoins. Despite this push, stablecoins remain primarily used for crypto trading rather than payments. BNY's chief product officer noted the potential for neutral governance and shared economics to unlock digital asset growth.
Yahoo FinanceConsortium including Visa and Mastercard jointly launches new global stablecoin
On June 30, 2026, a consortium including Visa, Mastercard, and Coinbase announced the launch of a new joint venture called Open Standard, which will issue a U.S.-dollar pegged stablecoin named Open USD. The initiative brings together over 140 businesses to accelerate global adoption of stablecoins by addressing key scaling challenges. Open Standard will allow businesses to mint and redeem Open USD without fees or volume limits, and will share earnings from reserve backing among partners. The launch follows the signing of the GENIUS Act by U.S. President Donald Trump, which established federal rules for stablecoins. The consortium aims to make stablecoins more practical for everyday payments and broader digital asset growth, with Open USD expected to go live later in 2026.
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