Coinbase, Visa, BlackRock and 140+ Firms Unite to Launch Open USD Stablecoin

The initiative brings together an unprecedented coalition of global payment networks, banks, fintech firms, and crypto companies, including Visa, Mastercard, Stripe, American Express, Coinbase, Ripple, Bybit, BlackRock, and Solana. Rather than being controlled by a single issuer, the stablecoin will operate under a newly established independent company called Open Standard, aiming to create a more collaborative model for digital payments.

The launch is scheduled for later in 2026, with Solana serving as the native blockchain from day one.

Open USD Adopts a New Ownership Model

Unlike most existing stablecoins, Open USD (OUSD) will not be controlled by one company.

Instead, ownership and governance will be managed through Open Standard, an independent organization representing the project's partners. The goal is to eliminate many of the limitations businesses currently face when using traditional stablecoins.

According to Open Standard CEO Zach Abrams, companies often encounter minting and redemption fees, limited access to reserve income, and dependence on the strategic decisions of a single issuer.

Under the proposed model, businesses will be able to mint and redeem OUSD without fees, face no artificial volume limits, and share in the earnings generated from the stablecoin's reserve assets.

Stripe Plans to Make OUSD Its Default Stablecoin

One of the strongest endorsements came from Stripe, which announced plans to make Open USD its default stablecoin for businesses using its payment infrastructure.

Will Gaybrick, Stripe's President of Technology and Business, said the project is being designed for the future scale of the global economy.

The commitment from Stripe could significantly accelerate adoption, giving millions of businesses direct access to the new stablecoin once it launches.

Stablecoin Market Continues Rapid Expansion

The launch arrives as the stablecoin sector experiences unprecedented growth.

According to industry data, the global stablecoin market currently exceeds $298 billion, with demand continuing to rise across payments, remittances, decentralized finance, and institutional settlements.

Many analysts expect this growth to accelerate substantially over the remainder of the decade.

BNY Chief Product and Innovation Officer Carolyn Weinberg believes the stablecoin market could expand to $1.5 trillion by 2030, arguing that an industry-owned model like Open USD could unlock the next stage of digital asset adoption.

She noted that neutral governance combined with shared economic incentives may encourage broader participation from both traditional financial institutions and blockchain-native companies.

Traditional Finance and Crypto Continue to Converge

The list of founding partners highlights the increasing convergence between traditional finance and the digital asset industry.

Global payment giants such as Visa, Mastercard, American Express, and Stripe are joining forces with leading crypto platforms including Coinbase, Ripple, Bybit, and Solana, while major financial institutions like BlackRock continue expanding their blockchain initiatives.

By building an open, jointly governed stablecoin, the consortium aims to create payment infrastructure capable of supporting enterprise-scale adoption without relying on a single centralized issuer.

If successful, Open USD could become one of the largest collaborative stablecoin initiatives ever launched, offering businesses a low-cost, high-throughput digital dollar designed for global commerce and institutional finance.