Visa, Stripe, and Mastercard Back Launch of New Dollar Stablecoin, Open USD

A consortium backed by financial heavyweights Visa, Stripe, and Mastercard has officially launched a new US dollar-pegged stablecoin, representing one of the most significant pushes by traditional payment networks into digital currency infrastructure. The new token, named Open USD (OUSD), is now live for enterprise developers and businesses focused on internet-native financial services.

The Launch of OUSD

The Open Standard initiative developed OUSD to facilitate services across banking, settlement, and cross-border transactions. The launch is anchored by a powerful group of initial partners:

• Founding Members: Visa, Stripe, Coinbase Global Inc., and the Mastercard-owned BVNK.
• Liquidity Commitment: Shopify Inc. has joined the consortium, which has committed to minting approximately $1 billion in total OUSD supply to establish immediate liquidity.

This move signals a growing effort by established payment companies to leverage stablecoin technology for more efficient settlement, aiming to bypass the constraints of legacy clearing systems with faster and more programmable payment rails.

Backing and Infrastructure

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To ensure stability and transparency, OUSD is structured with institutional-grade support. The stablecoin is issued by Bridge, a subsidiary of Stripe, and is backed by US dollar reserves managed by leading financial institutions, including BlackRock, Lead Bank, and BNY.

Open Standard has committed to releasing public, monthly attestations of its reserves. The token will be available natively on several major blockchain networks, including Ethereum, Solana, Base, and Tempo. Initial exchange support will be provided by venues such as Uniswap, Kraken, and Coinbase.

Market Context and Competition

OUSD enters a highly competitive stablecoin market currently dominated by Tether’s USDT and Circle’s USDC, which together command the vast majority of global liquidity. The Open Standard initiative aims to differentiate itself and drive adoption through a partner reward structure that shares platform economics and equity with participating institutions.

The launch comes amid a favorable regulatory environment in the U.S., where policymakers have been exploring frameworks to support the international use of dollar-backed digital assets. While previous attempts by traditional payment firms to gain significant stablecoin market share have seen limited success, OUSD's strong institutional backing and incentive model position it as a serious contender.