New Stablecoin 'OpenUSD' Launches... 140 Companies, Including Stripe and Visa, Join

Over 140 companies, including Stripe, Visa, Mastercard, Coinbase, and BlackRock, are collaborating on the new stablecoin 'OpenUSD,' reported Diinformatio on June 30. This marks a significant challenge to the dominant stablecoin market controlled by Circle and Tether. Following the announcement, Circle's stock price dropped 14% on Tuesday. The Open Standard project, led by Stripe's Bridge CEO Jack Abrams, shares all revenue from reserve funds with distribution partners except operational fees, differing from Circle and Tether's models. OpenUSD plans to launch on Coinbase Base, Ethereum, Solana, and Tempo blockchains this year, with participation from Google, BNY, Shopify, and multiple overseas banks.