Visa, Mastercard, and Coinbase Global Inc. have joined a coalition of more than 140 global firms to launch the Open USD stablecoin network. The independent entity Open Standard announced the consortium on June 30, 2026, with plans to release a dollar-pegged token called Open USD (OUSD) later this year.
This new initiative aims to accelerate the use of digital dollars by creating an open, business-focused alternative to current market leaders. By uniting payment processors, banks, and tech giants under a shared governance model, the project hopes to remove enterprise adoption barriers.
The Open USD stablecoin network shifts industry standards
Unlike existing stablecoins controlled by single issuers, OUSD will operate under a collaborative consortium model. Open Standard will manage the network through a board of partners, ensuring neutral governance that is not dominated by any single corporation. This structure allows participating firms to have a direct stake in the network’s development.
A central feature of the ecosystem is its innovative revenue-sharing model. Rather than the issuer keeping all reserve interest, earnings from the dollar reserves backing OUSD will be shared among participating partners after operational expenses. This creates a strong economic incentive for businesses to integrate the token into their financial systems.
Businesses can mint and redeem Open USD without fees or volume limits, according to the consortium’s announcement. This transparent approach makes it easier for payment providers and fintech companies to scale their services. It also supports the current environment where investor sentiment shifts toward institutional assets as exchange supplies remain at multi-year lows.
Zach Abrams, the founding CEO of Open Standard, emphasized that corporate scale requires specific infrastructure. He stated that businesses need systems that are open, low-cost, and aligned with their commercial interests. Abrams previously served as the co-founder and CEO of Bridge, a payments firm acquired by Stripe.
Global financial leaders unite under shared governance
The list of participants includes major payment networks such as American Express, Stripe, Discover, and Adyen. These companies are joined by financial giants like BlackRock, BNY, and Standard Chartered. The inclusion of traditional banks like BBVA and U.S. Bank provides a significant bridge between legacy finance and digital assets.
Technology and commerce platforms have also committed to the network, including Google, Shopify, and IBM. Regional leaders such as Mercado Pago in Latin America and Grab in Southeast Asia have also joined the group. This broad support ensures that OUSD has the global reach necessary to handle high-volume transactions.
Jack Forestell, Visa’s Chief Product and Strategy Officer, said the company is applying its global network’s rigorous risk standards to Open USD. Similarly, Coinbase’s Chief Business Officer, Shan Aggarwal, described stablecoins as the most important current development in payments. He noted that building shared infrastructure will help modernize global digital commerce.
Stripe will play a major role in the initial rollout by making OUSD the default stablecoin for its commerce ecosystem. Will Gaybrick, President of Technology and Business at Stripe, confirmed that this integration will provide millions of businesses with immediate access to the token. This move positions OUSD for rapid real-world utility upon its launch.
Regulatory clarity fuels digital asset adoption
The consortium’s launch follows the implementation of the GENIUS Act, the first comprehensive U.S. federal law governing payment stablecoins. This legislation requires issuers to maintain one-to-one reserves while establishing clear consumer protections and anti-money laundering requirements. The law has provided the regulatory certainty that many institutions were waiting for.
Open Standard’s launch reflects a broader transition toward regulated digital payment infrastructure. As financial institutions become more comfortable with blockchain technology, they are looking for compliant ways to settle cross-border transfers. This shift often occurs as the Ethereum network outlook remains strong due to increased activity in decentralized finance.
Carolyn Weinberg, the Chief Product and Innovation Officer at BNY, said a stablecoin built on neutral governance could support the next phase of adoption. BlackRock’s global head of market development, Samara Cohen, also pointed to the size of the opportunity ahead. She stated that BlackRock expects the stablecoin market to reach $1.5 trillion by 2030.
The consortium has committed to maintaining a conservative reserve policy. Every OUSD token will be fully backed by cash and short-term dollar assets held in reserve. This “compliance-first” strategy ensures that the network meets the rigorous stablecoin oversight standards now required by federal regulators in the United States.
Market reactions to the consortium model
The announcement of the OUSD network had an immediate impact on the digital asset market. Shares of Circle, the issuer of the USDC stablecoin, fell sharply by between 15% and 17% on the day of the news. Investors appear concerned that a consortium-backed rival could threaten the revenue models of established issuers.
Existing leaders like Tether (USDT) and Circle have long benefited from keeping the yield generated by their massive dollar reserves. By offering to share these earnings with partners, Open Standard is directly challenging that dominance. This competitive pressure could force a shift in how the entire stablecoin industry handles reserve management and partner incentives.
Open USD will be blockchain agnostic, meaning it can function across various different networks. However, the consortium confirmed that the token will initially launch natively on the Solana blockchain. This choice highlights Solana’s reputation for high throughput and speed, which is essential for processing global commerce at scale.
As the network prepares for its live date later in 2026, the industry will watch how quickly these 140 firms integrate the token. If adoption is seamless, the “Open Standard” could define the future of how money moves on the internet. For now, the project represents one of the most significant collaborations between traditional finance and blockchain technology to date.