Visa, Stripe, and Coinbase are among the founding members of Open Standard, a new initiative launching the Open USD (USDO) stablecoin later this year. This collaboration aims to offer a fee-free, volume-unlimited stablecoin with revenue sharing from its reserves, directly challenging existing stablecoin models. The key data point is the backing by major financial and crypto institutions, signaling a significant push towards a more integrated and potentially competitive stablecoin ecosystem. This development could reshape stablecoin market share and influence the broader crypto economy, making it crucial to watch for its market adoption and regulatory response.
The launch of Open USD, backed by major payment and crypto firms, introduces a new, potentially disruptive stablecoin with a unique revenue-sharing model. This could fragment stablecoin liquidity, increase competition for Tether and USDC, and influence institutional adoption of digital assets by offering a new, fee-free on/off-ramp.
This story reveals a growing convergence between traditional finance and crypto infrastructure, with major players seeking to control the stablecoin rails. It implies a future where stablecoins are more integrated into mainstream payment systems, potentially driving increased liquidity and institutional participation in crypto markets.
Expected to launch later this year, Open Standard said businesses will be able to mint and redeem Open USD without fees or volume limits.