Major Giants, Including BlackRock, Google, Visa, and Mastercard, Announce New Cryptocurrency Initiative: Ripple Is Also Involved

Open Standard has announced Open USD (OUSD), a new stablecoin developed for global payments and settlement processes. According to the company, over 140 companies, including Visa, Stripe, Mastercard, BlackRock, BNY, Coinbase, Ripple, Google, Shopify, Bybit, OKX, and Solana, have joined the OUSD ecosystem.

Open Standard stated that OUSD will be a stablecoin based on a consortium governance model, not controlled by a single issuer. Under this model, ecosystem partners will be able to share in reserve revenues and participate in governance processes after paying a small governance fee.

The company stated that OUSD will support zero-fee minting and redemption processes, and that no artificial issuance limits will be applied. The stablecoin is expected to launch later this year.

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Zach Abrams, co-founder and CEO of Bridge, which is owned by Stripe, will serve as the founding CEO of Open Standard.

According to Open Standard, companies joining the OUSD ecosystem include payment giants Visa, Stripe, Mastercard, American Express, and Western Union; financial institutions BlackRock, BNY, Standard Chartered, U.S. Bank, BBVA, and DBS; technology companies Google, Samsung Electronics, IBM, Shopify, and Mercado Libre; and cryptocurrency companies such as Coinbase, Bybit, Solana, OKX, Ripple, Crypto.com, Fireblocks, Gemini, MetaMask, Aave, Galaxy, Ledger, MoonPay, Trust Wallet, Stellar, Polygon, and Aptos Labs.

*This is not investment advice.

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