Open Standard has launched Open USD, a stablecoin backed by more than 140 companies including Visa, Mastercard, Stripe, and BlackRock.
The stablecoin brings together card networks, banks, fintechs, and crypto firms under a shared governance structure. According to Open Standard, Open USD is intended to address recurring limitations in the existing stablecoin market, including high minting and redemption fees at scale, limited access for businesses to earnings generated on reserves, and dependence on the roadmaps of individual third-party issuers.
Open Standard has structured Open USD around three stated principles. First, businesses will be able to mint and redeem Open USD without cost and without volume limits, a feature the company describes as built for scale. Second, partners will receive the earnings generated on Open USD's reserves, less a management fee to cover operational costs. Third, the stablecoin will be governed collaboratively through a board composed of Open USD's partner companies, rather than being controlled by a single entity.
Open Standard stated that Open USD will go live later in 2026.
Backers span payments, banking, and crypto
The list of participating companies includes payment networks and processors such as Visa, Mastercard, American Express, Discover, Fiserv, and Adyen, fintechs including Stripe, Klarna, Affirm, and Ramp, as well as remittance and cross-border specialists such as Western Union, MoneyGram, Remitly, and Ria.
Banking participants include BlackRock, BNY, Standard Chartered, Commonwealth Bank of Australia, DBS Bank, U.S. Bank, and BBVA, among others, across Asia-Pacific, the Middle East, Latin America, and Africa. Technology and commerce platforms Google, Samsung Electronics, IBM, Shopify, Mercado Libre, and DoorDash are also listed as participants, alongside crypto and digital asset firms including Coinbase, Ripple, Solana, Base, Fireblocks, and Stellar.
Representatives from several partner companies commented on the initiative. BlackRock's Samara Cohen said stablecoins with neutral governance and shared economics could support further growth in digital assets, adding that the firm anticipates the broader stablecoin market could reach USD 1.5 trillion by 2030. Mastercard's Jorn Lambert said the goal was for infrastructure underpinning stablecoins to be open, interoperable, and broadly accessible, while Stripe's Will Gaybrick said Open USD would become the default stablecoin for businesses operating on Stripe's platform.
The announcement comes as stablecoin transaction volumes have been approaching levels comparable to the ACH network, according to Open Standard. The initiative reflects a broader trend of payment networks, banks, and technology platforms coordinating on shared stablecoin infrastructure rather than pursuing separate, proprietary approaches. Open Standard has not disclosed further technical or regulatory details ahead of Open USD's planned launch later this year.
