More than 140 global companies, including Visa, Stripe, Mastercard, BlackRock and Coinbase, have joined forces to launch a new stablecoin under an initiative called Open Standard. The token, named Open USD (OUSD), is designed to distribute most of the earnings generated from its reserves back to participating firms, after a small administrative fee is deducted.
The stablecoin is expected to go live later this year, with businesses able to mint and redeem OUSD without fees or transaction limits.
A cooperative model for stablecoins
Open USD introduces a shared governance structure, with oversight handled by an independent body and decision-making distributed among partner companies rather than a single issuer. Members will be able to integrate the token into their services, use it for payments and earn revenue tied to real-world adoption.
This approach contrasts with existing stablecoins, where profits from reserve assets are typically retained by a centralized issuer. By redistributing earnings, Open Standard is positioning OUSD as a collectively owned piece of digital financial infrastructure.
Backing from finance and technology heavyweights
The initiative brings together major payment networks such as Visa, Mastercard, American Express and Discover, alongside financial institutions including BlackRock, BNY and Standard Chartered. Technology companies like Google, Shopify and IBM have also joined, as well as crypto-native firms such as Coinbase, Ripple, MetaMask, Bybit, Galaxy and OKX.
Executives from several of these companies confirmed their involvement publicly. Visa’s head of crypto initiatives, Sheffield, said the firm joined as a founding partner to support a cooperative framework for the global financial system. Mastercard and Stripe executives also signaled participation.
Infrastructure and issuance plans
Tempo CEO Huang said OUSD will be issued directly on the company’s network at launch, supporting payments, liquidity provision, decentralized finance activity and exchange operations. However, Open Standard has not confirmed whether Tempo will be the exclusive issuance platform.
Details on additional blockchain integrations remain limited, though broader deployment across multiple networks is expected to shape the token’s utility and reach.
Strategic push into digital monetary infrastructure
The involvement of established financial and technology firms highlights a coordinated effort to build a shared digital currency system. Payment giants bring global merchant networks and distribution channels, while firms like BlackRock point to a focus on conventional reserve management, likely involving short-term U.S. Treasuries and cash.
By removing fees for minting and redemption and eliminating volume caps, OUSD aims to reduce friction for large-scale business use, directly challenging existing stablecoin models.
Regulatory and market implications
The scale of participation is likely to draw close attention from regulators, particularly in the United States. Existing frameworks such as the GENIUS Act provide some guidance, but the entry of major financial players is expected to trigger additional scrutiny סביב compliance with banking and anti-money laundering rules.
Traders are expected to monitor upcoming disclosures on reserve composition and custodians, as these factors are critical to stability and trust. Network support beyond Tempo will also be a key indicator of adoption potential.
Market reaction has so far been subdued, with broader caution across digital assets. However, shifts in trading volumes and market capitalization among dominant stablecoins like USDT and USDC could signal early positioning ahead of OUSD’s launch later this year.
To understand how stablecoins work, explore their mechanisms, use cases, and risks shaping innovations like Open USD.
Disclaimer: The content on this page is provided for general informational purposes only and does not represent the views or financial advice of Toobit. We make no guarantees regarding the accuracy or completeness of this information and shall not be held liable for any errors, omissions, or outcomes resulting from its use. Investing in digital assets involves risk; users should independently evaluate their financial situation and the risks involved. For further details, please consult our Terms of Service and Risk Disclosure.
