Visa, BlackRock and Google Back Open USD Stablecoin to Rival USDC

A new stablecoin backed by more than 140 of the world’s most recognizable financial and technology companies just announced itself to the world — and it’s designed to work differently from anything that came before it. Open USD (OUSD), the new stablecoin from a startup called Open Standard, enters a crowded space with an unusual proposition: no single issuer calls the shots, no fees to mint or redeem, and no artificial cap on how much can be created.

Key takeaways

• Open Standard announced the Open USD (OUSD) stablecoin for global payments and settlement, with a planned launch later in 2026.
• More than 140 companies have joined the OUSD ecosystem, including Visa, BlackRock, Coinbase, Stripe, Mastercard, Google, and Shopify.
• OUSD uses a consortium-governance model — partners share in reserve earnings rather than ceding control to one issuer.
• The stablecoin supports zero-fee minting and redemption with no artificial issuance limits.
• Zach Abrams, CEO of Stripe-owned Bridge, serves as Open Standard’s founding CEO.

Open Standard Launches the OUSD Stablecoin

Open Standard publicly unveiled the Open USD stablecoin on June 30, 2026, positioning it as infrastructure for global payments and settlement rather than just another digital dollar. The announcement came with immediate heavyweight backing — a coalition that spans traditional finance, big tech, and crypto-native platforms simultaneously.

The stablecoin is expected to go live later in 2026. That timeline makes OUSD one of the most closely watched product launches in the payments industry this year, given the scale of institutional support already assembled before a single dollar of OUSD has been issued publicly.

Wide Industry Support and Ecosystem Participation

The OUSD ecosystem already counts more than 140 companies, a roster that reads like a who’s who of global finance and technology. Visa, BlackRock, and Coinbase are among the headline names, but the full list runs considerably deeper.

Other confirmed participants include Stripe, Mastercard, BNY, Ripple, Google, Shopify, Bybit, OKX, and Solana. That combination — legacy payment rails sitting alongside crypto exchanges and blockchain infrastructure — signals that OUSD is being designed to bridge multiple financial worlds at once, not just serve one corner of the market.

The breadth of participation is arguably the single most strategically significant aspect of this launch. When Visa and Mastercard are both in the room alongside Coinbase and OKX, it suggests the industry has reached a point where competing networks can agree on common settlement infrastructure — at least in principle.

Unique Consortium Governance Model

Unlike Tether or Circle’s USDC, OUSD will not be controlled by a single issuer. Instead, Open Standard is deploying a consortium-governance model that distributes both decision-making authority and economic benefit across its partners.

Under this structure, participating companies share reserve earnings generated by OUSD’s backing assets, after a small management fee is deducted. This isn’t just a branding choice — it fundamentally changes the incentive structure. Partners have a direct financial reason to support OUSD’s growth and adoption, because a larger circulating supply means larger reserve earnings to share.

That design also addresses a recurring criticism of dominant stablecoins: that reserve income flows almost entirely to the issuer, while users and distribution partners capture little of the economic value they help create. With OUSD, the model flips that dynamic, giving ecosystem participants a stake in the outcome.

Key Features: Zero Fees and Unlimited Issuance

On the product side, OUSD is built around two features that remove common friction points in stablecoin usage. Zero-fee minting and redemption means companies and individuals can move in and out of OUSD without paying a toll each time, which matters enormously at scale for payment and settlement use cases where margins are thin.

There are also no artificial issuance limits on OUSD. Supply can grow as demand requires, without the kind of programmatic constraints that limit some other stablecoins. For a payments network aiming at global settlement volumes, that flexibility is essential — settlement infrastructure cannot afford to hit a ceiling at the wrong moment.

Leadership and Founding Vision

Zach Abrams, co-founder and CEO of Bridge — the stablecoin infrastructure company acquired by Stripe — will serve as Open Standard’s founding CEO. His background connects Open Standard directly to Stripe’s existing stablecoin work, and signals that the project has operational depth behind the announcement, not just a name and a list of logos.

Abrams brings experience building the kind of plumbing that makes stablecoins actually work in business contexts, which may prove more important than any single partnership as OUSD moves toward its launch later this year. The real test will be whether that coalition of 140-plus companies translates into genuine transaction volume — or simply impressive press release real estate.

FAQ

What is the Open USD (OUSD) stablecoin?

Open USD (OUSD) is a new stablecoin designed for global payments and settlement, announced by Open Standard. It is backed by a consortium of more than 140 companies and is expected to launch later in 2026.

Who are some key partners in the OUSD ecosystem?

Key partners include Visa, BlackRock, Coinbase, Stripe, Mastercard, BNY, Ripple, Google, Shopify, Bybit, OKX, and Solana, among more than 140 participating companies.

How is OUSD governed?

OUSD uses a consortium-governance model, meaning no single issuer controls the stablecoin. Partners participate in governance and share reserve earnings after a small management fee, giving them a direct financial stake in the network’s growth.

What are the fees and issuance limits for OUSD?

OUSD supports zero-fee minting and redemption with no artificial issuance limits. Partners share reserve earnings after a small management fee is applied to the underlying backing assets.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.