Open USD Gains Support from Visa, Mastercard, and BlackRock

Open USD is a new stablecoin backed by over 140 companies, including Visa, Mastercard, BlackRock, and Coinbase.

The world's largest payment and financial companies are doubling down on stablecoins. Major players such as Ripple, PayPal, and MoneyGram have already launched their own projects, while Visa and Mastercard have been steadily expanding infrastructure for settlements based on digital dollars. Ripple introduced RLUSD, PayPal continues to develop PYUSD, and MoneyGram recently launched its own stablecoin, MGUSD. Mastercard has also begun supporting settlements using several regulated stablecoins, including RLUSD and PYUSD.

The next step could be Open USD, a newly announced stablecoin developed by Open Standard. The project is expected to be backed by a consortium of more than 140 companies, including Visa, Mastercard, Stripe, BlackRock, BNY, and Coinbase. According to its creators, participating organizations will be able to issue and redeem tokens without fees, share revenue generated from reserve assets, and collectively shape the future development of the network.

However, the project is about more than launching another digital dollar. The broader trend is that leading companies across payments, banking, and crypto increasingly view stablecoins as the foundation of the next generation of financial infrastructure. While some firms continue building proprietary solutions, others are joining collaborative initiatives designed to create a shared platform for the entire financial ecosystem.

The initiative has also attracted major banking institutions, including Standard Chartered, Commonwealth Bank of Australia, Sumitomo Mitsui Financial Group, DBS, BBVA, and Mizuho. Their participation highlights that the race for leadership in the stablecoin market is no longer limited to crypto-native companies—it now involves virtually the entire global financial sector.

Whether Open USD ultimately succeeds or not, the direction of the market is becoming increasingly clear. More banks, payment providers, and technology companies are launching their own stablecoins or investing in the infrastructure needed to support them. This suggests that digital dollars are evolving from a cryptocurrency experiment into a permanent component of the modern financial system.