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Leading financial institutions and technology companies have unveiled Open USD (OUSD), a new stablecoin sharing platform designed to provide digital dollar-like tools for payments, remittances and the online economy.
It was announced on June 30the project brings together more than 100 founders, including Visa, Mastercard, Stripe, Coinbase, American Express, BlackRock, US Bank, BBVA and Standard Chartered, which represents one of the largest efforts to build a stablecoin infrastructure.
Instead of competing as a stand-alone company, Open USD aims to establish a standard that participating financial institutions can integrate into existing payment platforms and digital services.
The Consortium wants to share the Digital Dollar
Open USD is designed as a decentralized stablecoin that aims to function as a common transaction system instead of paying owners.
The consortium’s goal is to create a digital dollar that banks, payment companies, fintech platforms and blockchain developers can use in multiple contexts, including cross-border payments, asset management and asset returns.
In contrast to traditional stablecoins, where the reserve currency mainly benefits the issuer, Open USD introduces a shared currency system designed to share the economic benefits across the entire ecosystem.
Project participants say the model should align incentives between financial institutions, payers and distributors as they encourage more adoption.
Designed for Institutional Finance
The stablecoin will be issued natively on Tempo, a blockchain network designed to support institutional payments and managed financial applications.
Support from payment companies, banks, wealth management and digital goods shows the need for sustainable blockchain infrastructure that can connect with existing financial systems.
According to Visa’s Head of Crypto, Cuy Sheffield, the project aims to help move stablecoins beyond crypto use cases by making them an integral part of modern finance.
The Consortium sees a sustainable digital currency as an important next-generation payment method rather than a mere derivative of other cryptocurrencies.
The Stablecoin Market Enters a New Phase
The adoption comes as stablecoins continue to evolve into one of the fastest growing sectors in blockchain.
Global stablecoin circulation will exceed $310 billion by 2026, with institutions adopting premiums for settlement, offshore asset management and margin trading.
Until now, the market has been largely dominated by Tether’s USDT and Circle’s USDC, both of which operate under centralized issuance models.
Open USD introduces an alternative method in which many financial institutions participate in governance, distribution and financial incentives instead of relying on a single provider.
Experts say that the consortium model can accelerate the establishment of organizations by reducing the dependence on stablecoin providers while promoting the coordination of services in the payment network.
Why the OUSD Model is Different
While previous stablecoins such as USDT and USDC relied on centralized issuance – where a single organization held the storage and managed the statement – OUSD transitions to a consensus-led model. This is a necessary change after the 2026 GENIUS Act. By decentralizing the administration and management of the fund to managed funds instead of a single company, the OUSD consortium reduces the “single risk of failure”.
This example is not a skill out loud; and security measures that are consistent with government requirements for transparency and corporate risk management. For banks and businesses, this integrated approach lowers the barrier to entry, as the compliance burden is shared across the board, providing a safe, predictable environment for cross-border settlement.
Control Creates Opportunity
The announcement follows a trend of good governance in major financial markets.
In the United States, the GENIUS Act established a system of stable payments, which provides legal certainty to banks and financial institutions that include the basis of the digital dollar.
Clear regulations have encouraged financial companies to move beyond pilot programs and begin integrating stablecoins into mainstream payments and financial services.
The regulatory process is in stark contrast to previous attempts at corporate-controlled digital currencies, including Meta’s Libra project, which was widely criticized before full stablecoin regulations were enacted.
Implementation of the AI Economy
Beyond traditional payments, Open USD is also being positioned as a foundation for the emerging AI economy.
Industry participants increasingly see stablecoins as essential for independent software providers that can make payments, manage transactions and connect to digital services without human intervention.
Companies like Stripe and Coinbase have highlighted machine-to-machine transactions as one of the next big opportunities for blockchain-based payments, where AI systems require online money that can flow instantly across the world’s internet.
By combining financial infrastructure with sustainable capabilities, Open USD aims to position itself at the intersection of traditional finance, blockchain technology and artificial intelligence.
As financial institutions continue to embrace digital assets, the launch of Open USD shows that the competition in the stablecoin market is growing beyond the individual providers to the infrastructure to power the next generation of global money.
