Open Standard launches OUSD stablecoin backed by over 140 major firms including Visa, BlackRock, Coinbase

Tyler Warner Wed, July 1, 2026 at 5:31 AM PDT | 5 min read

• CRCL +4.31%
• SOL-USD +4.58%
• USDT-USD -0.04%

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GM!

Today's Top News

• Crypto majors are slightly red; Solana leads. BTC at $58.5k.
• 140 businesses team up for Open USD launch, taking aim at Circle and Tether.
• CRCL stock falls 17% in the wake of Open USD launch.
• Trump disclosure shows $1.2B in crypto profits; $50M+ in BTC holdings.
• Citi cuts its 12-month BTC price target from $112k to $82k, citing ETF flows, slow regulatory progress, and DAT concerns.

💵 Open USD Launches With 140+ Backers, Taking Aim at Circle and Tether

Open Standard, a new company led by Zach Abrams, launched Open USD as a stablecoin for global money movement, going live later this year.

It has serious backing from the heaviest hitters in payments, finance, and commerce. More than 140 businesses signed on, including:

• Payments & Finance: Visa, Mastercard, Stripe, BlackRock, BNY
• Tech & Commerce: Google, Shopify, DoorDash
• Crypto: Coinbase, Solana, Ripple, OKX, Aave

Its launch is a direct shot at Circle and Tether. Open USD gives all the power back to businesses by:

• Letting businesses mint and redeem for free, with no volume caps.
• Handing all earnings on its reserves back to partners, minus a small management fee.
• Being governed by a board of those partners, rather than a single company.

Circle's stock dived as Coinbase, BlackRock, and Visa backed Open USD. The move attacks the incumbents' most profitable feature — the real money in stablecoins is the yield on the Treasurys backing them, and Circle and Tether keep nearly all of it.

Stripe's president said Open USD will become the default stablecoin for businesses on its platform.

The market reacted strongly, with CRCL stock losing 18% on the day. The reason is clear: a huge part of the stablecoin growth story that Circle benefited from was based on business and institutional growth. Now those users will be heavily incentivized to use OUSD over USDC. The bull case for Circle is the "rising tide" thesis, but that's looking a bit shaky — at least right now. Expect OUSD to be a real stablecoin player as soon as it's up and running.

🇺🇸 Trump Discloses Over $1.2 Billion in Crypto Earnings

President Trump's annual financial disclosure, released Tuesday by the Office of Government Ethics, revealed more than $1.2 billion in earnings from his crypto ventures in 2025. The report runs over 900 pages, and crypto sits among the largest line items in it.

Breakdown of the $1.2B in Earnings

• Memecoin royalties: Just over $635 million, almost entirely from royalties tied to a licensing agreement with Celebration Coins. The TRUMP token launched on Solana days before he retook office in January 2025, rocketed to $75 and a $75B market cap within 3 days, then sold off. It now trades around $1.66 at a $394 million market cap — down roughly 98% from its all-time high.
• World Liberty Financial: More than $588 million in net proceeds from token sales distributed by the family's DeFi and stablecoin venture.
• Bitcoin holdings: Over $50 million in BTC.
• Ethereum holdings: Between $5 million and $25 million, among other digital assets.

Conflict of Interest Questions

The disclosure re-raises conflict-of-interest questions shadowing the administration. The president is actively shaping U.S. crypto policy while his family profits directly from the industry those rules govern.

This feeds straight into the CLARITY Act fight, where Democrats are pushing to bar the president and his family from crypto businesses as a condition for passing the bill. This new headline certainly will make the Dems dig their heels in. Odds of the bill passing dropped 10% on the day, to 39%.

Unfortunately, we likely haven't felt all the effects of those $1.2B in crypto earnings.