Visa, Mastercard, BlackRock, Coinbase, Ripple, and other financial firms are joining Open Standard to support OpenUSD, a new stablecoin planned for launch later this year.
Open Standard said OUSD is designed for global payments and settlement. The project has more than 140 companies in its ecosystem, including Visa, Stripe, Mastercard, BlackRock, BNY, Coinbase, Ripple, Google, Shopify, Bybit, OKX and Solana.
The stablecoin will use a consortium-governance model. Under the model, partner firms will share earnings from reserve assets after a small management fee, while also taking part in governance through the Open Standard board.
Open USD Stablecoin Set for 2026 Launch
Open Standard said OUSD aims to address business concerns around stablecoin costs, limits, and control. The firm said many companies still face high fees when minting or redeeming stablecoins at large scale.
The platform also said businesses often do not share in the revenue earned from underlying reserves. It added that developers may have limited influence when an issuer’s product plans do not match their needs.
OUSD will allow businesses to mint and redeem the stablecoin with no fees and no artificial limits on volume, according to Open Standard. The company said this structure is designed to support payments, settlement, and internet-based finance.
The stablecoin is expected to launch on layer-1 networks such as Solana and Tempo. Solana said OUSD will be issued natively on its network from day one.
Partners to Share Reserve Earnings
Open Standard said reserve earnings from OUSD will be shared with partners, except for a small fee used to cover operating costs. The company said partners will also take part in joint governance.
The model differs from single-issuer stablecoins, where one issuer often controls product changes, reserve revenue and network decisions. Open Standard said OUSD is designed around partner participation and shared decision-making.
BlackRock’s Global Head of Market Development, Samara Cohen, said stablecoins can play a role in digital markets when backed by trusted infrastructure and real use cases.
“Open USD is a constructive step toward giving businesses more choice in how they access tokenized value and participate in internet-native digital rails,” Cohen said.
Coinbase Chief Business Officer Shan Aggarwal said stablecoins are one of the main developments in payments. He said more shared infrastructure could help close the gap between current payment systems and faster digital payment rails.
Ripple Says Payments Will Be Multichain
Ripple said it is joining Open USD as a day-one integration partner. The company said stablecoins are changing how value moves and that interoperability is needed for institutional scale.
Ripple President Monica Long said the future of payments will be “multichain, interoperable, and built on institutional-grade blockchain infrastructure.” She said Ripple will continue working to make the XRP Ledger a leading blockchain for institutional payments.
Long also said Ripple sees XRPL as a “natural home” for future regulated stablecoins while growing the use of RLUSD and XRP globally. Her comments reflect Ripple’s focus on payments, stablecoins and institutional blockchain use.
The OUSD plan follows other stablecoin-linked work among major firms. Earlier this month, Ripple and Coinbase backed Mastercard’s AI agent payment system, which is expected to use stablecoins.
CLARITY Act Timeline Remains Uncertain
The OUSD announcement comes as U.S. digital asset policy remains under review. Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, said clear rules can unlock value for the sector.
“What GENIUS did for stablecoins, the Clarity Act will do for all other digital assets,” Witt said, referring to pending U.S. market structure legislation.
However, the CLARITY Act faces an uncertain timeline, with Polymarket odds for 2026 passage having dropped to a range of 42% to 48%.
Source: Polymarket
TD Cowen’s Washington Research Group said Senate Majority Leader John Thune may begin the procedural process during the week of July 13. That could set up a floor vote during that week or the week of July 20.
TD Cowen analyst Jaret Seiberg said July 24 is a key deadline before the House leaves for its August recess. “We continue to question if the bill can pass in the fall before the election,” Seiberg wrote.
