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FollowingAlliance stablecoin based on the sharing economy
Visa has joined Open Standard, an independent organization supported by more than 140 companies, to jointly launch Open USD ($OUSD), a new stablecoin anchored to the U.S. dollar for institutional payment and settlement scenarios.
Open Standard officially released $OUSD on June 30, 2026, positioning it as a global payment and settlement infrastructure, not just another digital dollar.
"Today, we announced that Visa has joined Open Standard with Stripe, Coinbase, Mastercard, American Express, BlackRock, U.S. Bank, BBVA, Standard Chartered and more than 100 initial partners with the mission of issuing Open USD, a shared stablecoin designed for the global financial system." Cuy Sheffield, head of Visa's crypto business, wrote on X.
The design of $OUSD is based on the economic principle of shared ownership rather than exclusive control, separating the economic value of the currency from the ownership of the currency.
Companies can mince and redeem the token for free, and there is no limit on the quantity; and almost all of the interest generated by the assets supporting $OUSD, after deducting management fees, flows to partners rather than a single issuer.
Visa's Role and Competitive Landscape
Participants include payment operators (Visa, Mastercard, American Express, Stripe, Discover), banks (BlackRock, BNY, Standard Chartered, BBVA, Mizuho), technology giants (Google, Samsung, IBM, Shopify) and crypto companies (Coinbase, Bybit, Ripple, OKX, Gemini, Fireblocks, Aave, Polygon, Solana Labs).
Stripe said it will make $OUSD the default stablecoin for corporate transactions on its platform;Coinbase also confirmed that $OUSD will be available on Base and other chains later this year.
$OUSD is planned to be launched on multiple chains such as Solana, Stellar, Base, and Polygon later in 2026.
This release has had an impact on existing competitors. The market almost immediately interpreted the news as a threat, and Circle's share price fell sharply that day, with multiple media reporting a decline of between 15% and 17%.
In April this year, Tether's USDT accounted for approximately 62% of the stablecoin market, and Circle's USDC accounted for approximately 25%.
Not everyone believes that this model will succeed on a large scale. Lorenzo Valente, director of research at ARK Invest, questioned whether the alliance of about 500 competing entities could move quickly, pointing to cold-start liquidity issues, a lack of mature trading pairs, and governance frictions caused by too many stakeholders.
Still, the broad commitment at the institutional level suggests that competition for stablecoin infrastructure has gone far beyond the realm of crypto-native players.
