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Visa, Stripe, Coinbase and more join Open USD stablecoin that shares reserve revenue
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More than 140 companies, including Visa, Stripe, Mastercard, BlackRock and Coinbase have joined Open Standard to launch Open USD (OUSD), a new stablecoin that shares most of the earnings from its reserves.
Key facts
- More than 140 companies, including Visa, Stripe, Mastercard, BlackRock and Coinbase have joined Open Standard to launch Open USD (OUSD), a new stablecoin that shares most of the earnings
- The launch included support and participation from big-name payment networks like Visa, Mastercard, American Express and Discover, institutions like BlackRock, BNY and Standard Chartered, technology
- Open Standard said businesses will be able to mint and redeem Open USD without fees or volume limits, while most of the income made by OUSD's reserves will be distributed to participating businesses
- The FAQ section on the site says that companies that join Open Standard will use Open USD as a core payment asset within their products and services, receive technical and integration support
Summary
Open Standard said businesses will be able to mint and redeem Open USD without fees or volume limits, while most of the income made by OUSD's reserves will be distributed to participating businesses after a small management fee. The FAQ section on the site says that companies that join Open Standard will use Open USD as a core payment asset within their products and services, receive technical and integration support and earn revenue based on the stablecoin's adoption. The launch included support and participation from big-name payment networks like Visa, Mastercard, American Express and Discover, institutions like BlackRock, BNY and Standard Chartered, technology firms including Google, Shopify and IBM, and crypto firms including Coinbase, Bybit, OKX, MetaMask, Ripple and Galaxy.