Visa, Stripe, and 140 firms launch Open Standard to issue Open OUSD on June 30, 2026
Visa, Stripe, and 140 other firms announced on June 30, 2026, the launch of Open Standard to issue Open USD (OUSD). This new dollar-pegged stablecoin will share most of its reserve earnings with participating businesses, marking a significant development in the financial technology space.
The consortium, consisting of more than 140 companies, intends to establish a neutral infrastructure for global payments and settlement. Unlike traditional models where issuers retain all interest, Open USD will distribute nearly all income from its reserves back to the businesses that adopt it, minus a small management fee.
Broad participation from global payment networks and banks
The initiative introduces a significant economic shift for stablecoin distribution. Companies that integrate OUSD as a core payment asset within their services will earn revenue based on the coin’s adoption.
This model is designed to entice businesses that move large volumes of dollars and require a more cost-effective way to mint and redeem assets at scale. By removing volume caps and fees for these operations, Open Standard is targeting the cross-border commerce and internet economy sectors that have been hampered by high-frictional costs.
This development arrives as industry leaders emphasize the need for unified financial rails. Brian Armstrong warns that finance must move on-chain to remain efficient, and the OUSD model provides a direct path for legacy institutions to participate in that transition.
By involving global banks and payment processors in a shared governance model, Open Standard positions OUSD as a collaborative utility rather than a product controlled by a single private entity.
The initial launch group for Open Standard features a massive roster of over 140 partners across the finance and technology sectors. In addition to Visa and Stripe, the consortium includes major payment networks Mastercard, American Express, and Discover. These firms are joined by institutional heavyweights such as BNY, Standard Chartered, BlackRock, and U.S. Bank.
Technology firms including Google, Shopify, and IBM are also participating, signaling intent to use OUSD as a primary asset for digital commerce.
Visa’s head of crypto, Cuy Sheffield, stated on X that the mission of Open USD is to provide a shared stablecoin designed specifically for the global financial system. Mastercard Chief Product Officer Jorn Lambert also highlighted that interoperable infrastructure is the key to incorporating stablecoins into the broader financial world.
OUSD’s unique revenue sharing model
One of Open USD’s most innovative features is its distribution of reserve earnings. Most stablecoins generate income from the interest earned on their underlying reserves, but this revenue typically remains with the issuer.
With OUSD, nearly all of this income will be returned to the companies that distribute it, after Open Standard deducts a small management fee. This structure incentivizes broad adoption and integration, creating a powerful network effect.
This model potentially reshapes the competitive landscape for stablecoins. Businesses, especially those handling significant transaction volumes, now have a compelling financial reason to switch to or incorporate OUSD.
It’s a strategic move to undercut established players by offering a direct financial benefit to partners, fostering a more collaborative ecosystem where success is shared. This contrasts sharply with the centralized profit models of existing stablecoins.
The promise of zero-fee minting and redemption without volume limits further enhances OUSD’s appeal to large enterprises. This removes a critical barrier for businesses looking to leverage stablecoins for everyday operations, from cross-border payments to supply chain finance. Access to technical and integration support will also be provided to member companies.
Competitive landscape for stablecoins
OUSD is designed to directly challenge market leaders such as Tether (USDT) and Circle’s USD Coin (USDC). These established stablecoins currently dominate the digital asset space, handling billions in daily transactions.
However, OUSD’s consortium-governance model and its revenue-sharing mechanism could provide a distinct advantage. It positions OUSD as a more decentralized and community-driven alternative compared to the single-issuer control seen in many current stablecoins.
Coinbase, a co-creator of USDC through its joint venture Centre with Circle, is participating in Open Standard, which is a telling detail. The move suggests a strategic diversification for Coinbase, indicating that even major players in the existing stablecoin ecosystem see significant value in OUSD’s approach.
This potentially signals a broader industry shift towards more collaborative and revenue-sharing stablecoin models. Coinbase has been a significant distribution engine for USDC, holding approximately $19 billion average USDC in its products, and its Layer-2 blockchain, Base, handles a vast majority of on-chain stablecoin transactions.
Integration with major payment platforms
For Stripe, the integration will be particularly deep, as Stripe President of Technology and Business Will Gaybrick confirmed that OUSD is intended to serve as the default stablecoin for businesses using the Stripe platform. This could provide an immediate and vast storefront for the token’s use in commercial transactions across millions of merchants.
This level of integration is a significant vote of confidence in OUSD’s potential. Stripe’s vast network of online businesses means OUSD could quickly become a widely accepted digital payment method, bypassing some of the historical adoption hurdles faced by other cryptocurrencies.
Such deep integration with a global payment processor like Stripe could accelerate OUSD’s use in real-world commerce. It provides a direct channel for businesses to engage with stablecoins without needing extensive crypto knowledge, effectively bridging the gap between traditional finance and the digital asset economy.
The involvement of numerous other payment networks, including Mastercard, American Express, and Discover, further solidifies OUSD’s potential reach. These companies bring immense infrastructure and merchant relationships, which are critical for any new payment instrument seeking widespread adoption.
Blockchain infrastructure and native issuance
Open USD is expected to launch later in 2026, with an initial focus on key blockchain networks. Tempo CEO Matt Huang confirmed that OUSD will be natively issued on Tempo’s network from day one, offering immediate support for payments, liquidity, exchanges, and decentralized finance applications.
While Tempo is an initial issuer, Open Standard has not yet confirmed if it will be the exclusive network for native issuance. The stablecoin is also set to go live across other prominent blockchain platforms, including Solana, Base, and Polygon. This multi-chain strategy ensures broad accessibility and interoperability, a crucial factor for a stablecoin aiming for global adoption.
The choice to launch on Solana and Base highlights their growing importance in the stablecoin landscape. Solana has been a preferred network for low-cost, high-speed transactions, while Base, a Layer-2 solution built by Coinbase, has demonstrated substantial stablecoin transaction volume. Users and developers alike are watching as new federal rules may impact Solana and other major networks.
This distributed approach to issuance and network support helps reinforce the consortium-governance model. It prevents OUSD from being beholden to a single blockchain ecosystem, promoting resilience and broader market reach.
What this means for the crypto economy
The involvement of institutional giants like BlackRock, BNY, and Standard Chartered alongside technology firms such as Google and IBM signifies a crucial turning point. It suggests a growing mainstream acceptance of stablecoins as legitimate financial instruments, capable of supporting global commerce at scale.
This collaborative effort represents a significant enterprise-level validation of cryptocurrency technology. It’s no longer just crypto-native companies driving innovation; established global players are actively shaping the future of digital finance. This could catalyze further adoption and integration of blockchain solutions across various industries.
The OUSD initiative signals a future where stablecoins are not merely speculative assets but fundamental components of the global financial system. The combination of major payment networks, financial institutions, and tech giants points towards a robust, interoperable framework for digital currency.
If successful, Open USD could become the default choice for businesses seeking efficient and cost-effective digital payments. This shift could significantly enhance liquidity and reduce transaction costs across the international financial landscape. The promise of shared reserve revenue is a powerful incentive, potentially creating a highly resilient and widely adopted digital dollar.
Outlook and market positioning
The expected launch of Open USD later in 2026 will be watched closely by the entire financial sector. Its success will hinge on the seamless integration by its 140-plus partners, and the ability of Open Standard to ensure robust, transparent governance.
The consortium model, while offering shared benefits, also presents challenges in coordinating such a diverse group of stakeholders. However, the collective power of these entities, combined with the innovative revenue-sharing model, positions OUSD as a formidable contender in the stablecoin market. This collaboration underscores a growing trend of traditional financial powerhouses embracing blockchain technology, ensuring that its evolution is increasingly driven by broad industry consensus.
This massive alliance puts OUSD in a position to immediately compete for market share against existing leaders. If the consortium can successfully leverage the merchant networks of Shopify and Stripe alongside the global reach of Visa and Mastercard, OUSD may quickly become the standard for B2B and consumer payments on the internet.
With its launch expected later in 2026, the project marks the most significant effort to date by traditional financial institutions to co-opt and standardize stablecoin technology for their own massive volumes of daily global trade.
Key participants in the Open Standard consortium
The consortium brings together a diverse group of over 140 companies that span payment networks, financial institutions, technology firms, and crypto-native businesses. This broad participation signals widespread industry support for OUSD’s vision.
Leading payment networks involved include Visa, Mastercard, American Express, and Discover. These entities command extensive global reach and processing capabilities, which are crucial for the stablecoin’s intended use in international payments.
Traditional financial institutions lending their weight to the initiative include BlackRock, BNY, Standard Chartered, U.S. Bank, and BBVA. Their involvement adds credibility and regulatory familiarity to the Open USD project.
Tech giants such as Google, Shopify, and IBM are also part of the consortium, reflecting the growing convergence of technology and finance in the digital age. Their participation suggests future integrations across e-commerce and enterprise solutions.
From the crypto space, prominent firms like Coinbase, Bybit, OKX, MetaMask, Ripple, and Galaxy have joined. Crypto tokens such as NEAR Protocol have seen surges in the past, reflecting investor excitement, and OUSD looks to capitalize on this interest.
These companies collectively represent a formidable force, bringing together expertise in payments, finance, technology, and blockchain. Their combined influence and infrastructure could significantly accelerate the adoption and utility of Open USD across various sectors of the global economy.