Open Standard has launched the stablecoin Open USD, with participation from over 140 institutions including Visa, BlackRock, and Coinbase.

BlockBeats News, July 1st, Open Standard announced the launch of a new stablecoin, Open USD (OUSD), for global money movement, with over 140 companies joining the ecosystem, including Visa, Stripe, Mastercard, American Express, BlackRock, BNY, DBS, Coinbase, OKX, MetaMask, Aave, Ripple, Fireblocks, Solana, Polygon, and other financial, payment, and crypto industry institutions.

Open USD is built on three core design principles: support for enterprise zero-cost, large-scale minting and redemption; reserve asset yield returned in full to partners after deducting a small management fee; governance by a board composed of the independent company Open Standard and partners, rather than controlled by a single issuer.

Open Standard stated that Open USD will officially launch later this year, aiming to create an open, low-cost, high-throughput stablecoin infrastructure with a shared economic model to meet the needs of the Internet economy and global enterprise payments.