Coinbase, BlackRock, Visa and Stripe support Open Standard’s OUSD stablecoin

Open Standard on Tuesday unveiled Open USD (OUSD), a dollar-pegged stablecoin designed for global payments, backed by more than 140 companies.

The founding coalition spans payment networks, banks, fintech firms, technology platforms and crypto infrastructure providers, including Shopify, Google, Ripple, Solana, Coinbase, Visa, Mastercard, Stripe, BlackRock and BNY.

OUSD targets enterprise payments with shared governance

Open Standard stated that OUSD is built to address the limitations of existing stablecoins. It aims to offer zero-fee minting and redemption, no volume caps, shared reserve earnings for ecosystem participants and a collaborative governance model.

Rather than being controlled by a single issuer, the platform will be overseen by a board representing participating businesses.

Open Standard added that the stablecoin is designed for high-volume enterprise use cases, including cross-border payments, remittances, merchant settlements and payouts.

"Existing stablecoins have great strengths, but to use them at scale, businesses need something that's open, low-cost, high-throughput, broadly accessible and aligned to their interests. We're thrilled to bring together over 140 businesses to launch Open USD. It's a stablecoin built for the internet economy, designed by the businesses growing it," said Open Standard founding CEO Zach Abrams in a Tuesday statement.

Open Standard claims OUSD combines infrastructure built for scale, shared economic incentives through reserve earnings and governance that allows participating businesses to help shape the network's future.

Several launch partners also highlighted the benefits of the collaborative model. Visa’s Chief Product and Strategy Officer Jack Forestell noted that the company is bringing its operational standards and risk management practices to support OUSD.

Stripe President of Technology and Business Will Gaybrick added that OUSD will become the default stablecoin for businesses using its platform.

On the other hand, DoorDash co-founder Andy Fang pointed to faster and more affordable access to cross-border earnings. BNY emphasized the value of neutral, interoperable digital asset infrastructure for institutional participants.

The stablecoin is scheduled to launch later this year with native support for the Solana network from day one.

“Stablecoins are the most important thing happening in payments right now, and we’re committed to giving our customers access to the best options available – including Open USD and beyond,” said Coinbase Chief Business Officer Shan Agrawal.

Stablecoin acceptance grows across traditional finance

The launch comes as stablecoin adoption continues to accelerate across banks, fintech firms and payment platforms. The total stablecoin market cap has surpassed $300 billion, reflecting growing demand for blockchain-based payment infrastructure from both crypto-native companies and traditional financial institutions.

That momentum has fueled a wave of industry collaborations over the past year. In Europe, a consortium initially formed by nine major banks, including ING, UniCredit, BNP Paribas, CaixaBank and SEB, is developing a MiCA-compliant Euro stablecoin expected to launch in 2026.

US banks, including JPMorgan, Bank of America, Citigroup and Wells Fargo, also previously explored joint stablecoin initiatives.