Visa, Stripe and BlackRock Launch Open USD Stablecoin With 140 Partners
Open Standard launches Open USD, a new dollar-pegged stablecoin backed by a consortium of more than 140 financial technology, payments, and asset management firms. Founding partners include Visa, Mastercard, Stripe, BlackRock, Coinbase, BNY Mellon, Google, and Shopify. The venture operates under a shared governance model that distributes reserve earnings among the participating companies instead of a single issuer. Zach Abrams, co-founder of Stripe-owned Bridge, will serve as the founding CEO.
The stablecoin launches later this year with zero fees for minting and redeeming dollars. Stripe will automatically route business customers to Open USD when processing transactions, and Coinbase plans to integrate it on its Base blockchain. The announcement drops shares of Circle, the issuer of rival USDC, about 14%. Circle founder Jer Allaire posts a statement welcoming competition but reaffirms that USDC remains the top choice for institutional finance.
From the sources (25 posts)
@matthuangVery excited to see this new effort from Stripe, Visa, Coinbase, Mastercard, Amex, Blackrock, and many others to build a new open stablecoin that shares economics back to users and distributors. OpenUSD will be natively issued on Tempo on
@tyler_did_itVisa just launched a new OUSD stablecoin in partnership with Coinbase, Mastercard, Stripe, BlackRock and 100+ other partners Arguably biggest stablecoin launch since USDC
@tyler_did_itRead more here
@matthuangRT @stripe: We’re making Open USD the default for businesses using stablecoins on Stripe. Coming soon.
@matthuangRT @tempo: OUSD is coming to Tempo, issued natively on day one. For businesses that choose OUSD, Tempo will support it with payments-first…
@cryptoroverBREAKING: Mastercard and 140 financial companies go ALL IN on crypto. Open Standard announces Open USD, a new stablecoin backed by more than 140 financial and crypto companies. Founding partners include Visa, Mastercard, Stripe, BlackRoc
@stanikulechovRT @aave: Open USD is a new stablecoin for global payments, built to be open and low-cost, and governed by the businesses that use it. Aav…
@danrobinsonRT @tempo: OUSD is coming to Tempo, issued natively on day one. For businesses that choose OUSD, Tempo will support it with payments-first…
@insider0xNew stablecoin with broad network at launch. Amassing the network like that is the only way to launch a new stablecoin today
@tyler_did_itCRCL stock does NOT like the Open USD news
@farokhThey even vamping stablecoins now
@matthuangRT @dwr: Few thoughts on OUSD - The 140+ initial partners have a **massive** amount of distribution outside of crypto. (And that's 9,730 p…
@matthew_sigel$CRCL -13% as Stripe, Coinbase and Blackrock back rival stablecoin "Open USD"
@zookoRT @patrickc: Delighted to partner with Visa, Mastercard, Coinbase, Cloudflare, Google, and many others, to introduce Open Standard, a new…
@frank_liquidHistory is full of technologies incumbents tried to resist. Stablecoins are no different. They let anyone, anywhere, hold and move dollars instantly, without asking permission from legacy financial infrastructure. Without them, @liquidtr
@scottmelkerVISA, STRIPE, MASTERCARD, BLACKROCK AND COINBASE JOIN 140+ FIRMS IN OPEN STANDARD TO LAUNCH $OUSD STABLECOIN THAT SHARES MOST RESERVE EARNINGS WITH BUSINESSES
@negligible_cap$V and Stripe launching a Stablecoin known as Open USD $CRCL down 8%+
@mtsliveSITUATION DETECTED: Open Standard has launched Open USD, a new stablecoin backed by over 140 companies including Stripe, Visa, Mastercard, Coinbase, BlackRock, and Google.
@collisionRT @patrickc: Delighted to partner with Visa, Mastercard, Coinbase, Cloudflare, Google, and many others, to introduce Open Standard, a new…
@diggOpen USD is being pitched as an “open” stablecoin backed by Visa, Stripe, Coinbase, Mastercard, Amex, BlackRock, Google and 140+ partners. That partner list is the whole fight: is this crypto infrastructure opening up, or getting absorbed
@sarthakghRT @dwr: Few thoughts on OUSD - The 140+ initial partners have a **massive** amount of distribution outside of crypto. (And that's 9,730 p…
@bowtiedbullThe best thing about these announcements is no one cares. Really hoping clarity act passes and nothing happens to price
@mtslivethe credit card companies are launching the thing that makes credit card companies unnecessary?
@eastdakotaOpen is good…
@coindeskBREAKING: Dozens of financial firms including @Visa, @Stripe, @Mastercard, @BlackRock and @Coinbase are launching a new stablecoin called $OUSD, sharing revenue among partners, per Bloomberg.