Open Standard unveiled Open USD on July 1, a new stablecoin designed for global money movement with backing from more than 140 participating businesses. The launch roster includes Coinbase, Ripple, Visa, Mastercard, Stripe, Shopify, BlackRock, BNY, BBVA, Bybit, OKX, Gemini, Fireblocks, and Crypto.com. Ripple joined as a day-one integration partner.
Fee-Free Minting and Shared Reserve Earnings
Open USD operates on three core principles. Businesses can mint and redeem the stablecoin without fees or volume restrictions. Partners receive a share of the earnings generated from reserve assets, minus a management fee. Open Standard said governance will be handled through an independent structure, with a board composed of participating partners rather than a single controlling entity.
CEO: Infrastructure Must Be Open and Aligned With User Interests
Open Standard CEO Zach Abrams said businesses need stablecoin infrastructure that remains open, accessible, and aligned with user interests, leading the company to design Open USD around collaborative governance and large-scale payments. According to Open Standard, stablecoin transaction volumes are approaching levels seen on the ACH network, and the project focuses on reducing costs and improving access for businesses moving funds globally.
Traditional Finance and Crypto Giants Join Forces
Several financial institutions and payment firms joined at launch. Samara Cohen, Global Head of Market Development at BlackRock, said Open USD offers businesses additional choices for accessing tokenized value. 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, while Visa's Jack Forestell emphasized governance, interoperability, and operational standards.
Cryptocurrency participants 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. Ripple stated that interoperability remains critical for institutional-scale adoption, and its participation supports open, multichain infrastructure across the digital asset ecosystem.
Collaborative Governance Shapes Future
Open Standard said collaborative governance will allow participating businesses to influence the stablecoin's future development, distinguishing the project from traditional top-down management models.