Open USD debuted with support from more than 140 companies, including Coinbase, Ripple, Visa, Mastercard, and BlackRock. The stablecoin offers fee-free minting and redemption alongside shared
Open Standard unveiled Open USD on July 1, introducing a new stablecoin focused on global money movement and backed by more than 140 participating businesses. According to Open Standard, the project launched with support from companies including Coinbase, Ripple, Visa, Mastercard, Stripe, Shopify, BlackRock, BNY, BBVA, Bybit, OKX, Gemini, Fireblocks, and Crypto.com, while Ripple joined as a day-one integration partner.
According to Open Standard, Open USD centers on three operating principles. Businesses can mint and redeem the stablecoin without fees or volume restrictions. Partners also receive earnings generated from reserves, less a management fee.
The company said Open Standard will oversee governance through an independent structure. Notably, its board will include participating partners rather than a single controlling entity.
Open Standard CEO Zach Abrams said businesses need stablecoin infrastructure that remains open, accessible, and aligned with user interests. Consequently, the company designed Open USD around collaborative governance and large-scale payments.
As the rollout begins, Open Standard said stablecoin transaction volumes are approaching levels seen on the ACH network. Therefore, the project focuses on reducing costs and improving access for businesses moving funds globally.
Several financial institutions and payment companies joined the initiative at launch. According to Open Standard, BlackRock, BNY, BBVA, Visa, Mastercard, and Stripe are among participating organizations.
Samara Cohen, Global Head of Market Development at BlackRock, said Open USD offers businesses additional choices for accessing tokenized value. Meanwhile, Carolyn Weinberg, Chief Product and Innovation Officer at BNY, said the bank expects to explore ways to support the initiative.
BBVA's Alicia Pertusa highlighted stablecoins' role in enabling continuous financial transactions. At the same time, Visa's Jack Forestell emphasized governance, interoperability, and operational standards.
Alongside traditional finance participants, several crypto companies joined the network. These include Coinbase, Ripple, Solana, Aave, Anchorage Digital, MetaMask, Ledger, MoonPay, and Trust Wallet.
Coinbase Chief Business Officer Shan Aggarwal said stablecoins remain a major development in payments infrastructure. Similarly, Ripple stated that interoperability remains critical for institutional-scale adoption.
According to Ripple, its participation supports open, multichain infrastructure across the digital asset ecosystem. Meanwhile, Open Standard said collaborative governance will allow participating businesses to influence the stablecoin's future development.
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