Coinbase, Visa and 140+ firms launch Open USD stablecoin

Open Standard, the independent organization created to run the project, announced Open USD on June 30. More than 140 companies have signed on and the stablecoin is scheduled to go live later in 2026.

Open USD is a dollar-pegged stablecoin designed for businesses that need to move large volumes of dollars across borders. Under Open Standard’s rules, partners can mint and redeem tokens without fees or volume caps. Partners retain earnings from the reserves that back the token, with a small share taken to cover operating costs. Governance will be handled by a board made up of participating partners rather than a single company.

The partner group includes payment networks, banks, crypto firms, custody providers, merchants and remittance operators. Payments firms named include Visa, Mastercard, American Express and Stripe. Traditional finance participants include BlackRock, BNY, Standard Chartered and U.S. Bank. Crypto and infrastructure firms on the list include Coinbase, Ripple, Solana, OKX and Crypto.com. Custody and wallet providers include Fireblocks, MetaMask, Anchorage Digital and Ledger. DoorDash and several remittance companies also joined the consortium.

Zach Abrams, founding CEO of Open Standard, described Open USD as “a stablecoin built for the internet economy, designed by the businesses growing it.” Visa intends to apply its existing risk and operational standards to the coin; Jack Forestell, the company’s chief product and strategy officer, described the approach as “the same discipline, risk standards and operational rigor we apply to our global network.” BlackRock cited a forecast that the stablecoin market could reach $1.5 trillion by 2030.

Coinbase positioned stablecoins as central to its payments strategy, with chief business officer Shan Aggarwal calling them “the most important thing happening in payments right now.” Michael Shaulov, CEO of Fireblocks, noted his firm already settles a significant share of global stablecoin volume for banks and payment processors. Stripe plans to make Open USD its default stablecoin; Will Gaybrick, the company’s president of technology and business, added the decision reflects a long-term view and called it “building for the scale of the 2040 economy.” DoorDash noted that faster, cheaper access to earnings matters for delivery workers and merchants operating outside the United States, and executives at remittance firms emphasized customers want quick access to local currency at fair prices.

Open Standard has not published figures for total reserves or projected transaction volumes. The organization has not named which blockchain networks will support Open USD at launch and is still inviting additional partners ahead of the 2026 rollout.