Visa and a consortium of 140 companies launched a U.S. dollar-pegged stablecoin called Open USD (OUSD). The group includes major financial players such as Stripe, BNY Mellon, BlackRock, and Mastercard.
The initiative operates under a new venture named Open Standard. It aims to challenge the existing stablecoin market through a shared governance and revenue model.
Open USD is designed for global payments and settlement. The stablecoin is scheduled to go live in late 2026.
Key features include zero fees for minting and redemption. The system imposes no artificial caps on issuance.
Partner firms will share earnings generated from the reserves backing the stablecoin. This model intends to accelerate enterprise adoption by moving away from single-issuer control.