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A coalition of over 140 companies, including Blackrock, Coinbase, Mastercard, Stripe, and Visa, have joined Open USD (OUSD), a new stablecoin effort governed by an independent entity called Open Standard that will distribute its revenues to its member partners.
What's the Scoop?
- The pitch: Once live, Open USD will let businesses mint and redeem the stablecoin with no fees or volume caps, while returning most of the reserve earnings back to participating partners minus a management fee.
- Open governance: Unlike most existing stablecoins, OUSD will be run by Open Standard, a separate company whose board is made up of its partner businesses, intended to keep decisions aligned with the collective network rather than a single corporate issuer.
- Heavyweight backing: The inaugural partner list spans banks (BBVA, BNY, DBS, Standard Chartered), crypto-native players (Aave, Coinbase, MetaMask, Morpho, Solana), payments giants (American Express, Mastercard, Visa), and tech platforms (DoorDash, Google, Shopify).
- Coming soon: Stripe said it's making OUSD the default stablecoin for businesses transacting on Stripe, while
Coinbase confirmed OUSD is coming to 
Base and other chains later this year. Open USD is expected to go live later in 2026.
