More than 140 companies, including Visa, Google, and Coinbase, announced the launch of Open USD, a new dollar-pegged stablecoin, on June 30, 2026. The stablecoin will be managed by an independent entity called Open Standard and is expected to launch later this year, offering a novel approach to stablecoin governance and operations, according to medianama.com.
Open USD differs from existing stablecoins through three key features: shared governance by a board comprising Open USD partners rather than a single issuer; no-cost, unlimited minting and redemption to eliminate fees and volume caps; and reserve earnings distributed to partner companies after covering operating costs. The initiative brings together a diverse group of partners from payments, banking, and technology sectors, including major card networks like Mastercard and American Express, banks such as BlackRock and Standard Chartered, and technology firms like Google and Coinbase.
The launch of Open USD addresses common challenges in the stablecoin market, such as high minting and redemption costs and centralized control by single issuers. By distributing governance and earnings among partners, Open USD aims to create a more inclusive and cost-effective stablecoin ecosystem. This move aligns with growing interest from global financial institutions and technology companies to innovate in digital currencies and payments, potentially influencing regulatory and market dynamics worldwide.
Open Standard’s blog post confirms that Open USD’s launch is scheduled for later in 2026, with the stablecoin designed to support large-scale business transactions without fees or volume limits. The partnership includes major players across payments, banking, and crypto sectors, signaling broad industry support for this new stablecoin model.