Access the Open Standard blog post here.
More than 140 companies across payments, banking, and crypto announced Open USD on June 30, 2026. This new dollar-pegged stablecoin will be managed by an independent entity, Open Standard, rather than a single issuer. The coin is expected to launch later in 2026.
The core offering: Open USD is built around three mechanics that differ from how most existing stablecoins operate:
- Shared governance. Open Standard is structured as an independent company whose board comprises Open USD partners, rather than being controlled by a single corporate parent.
- No-cost, unlimited minting and redemption. Businesses can convert to and from Open USD without fees or volume caps, addressing a common complaint that minting and redeeming stablecoins at scale is expensive.
- Reserve earnings go to partners. Interest earned on the assets backing Open USD is passed on to partner companies, minus a management fee that covers Open Standard’s operating costs, rather than being retained by the issuer.
Who’s backing it? The partner list spans four broad categories:
- Payments and card networks: Visa, Mastercard, American Express, Discover, Stripe, Adyen, Klarna, Affirm, Ramp, Brex, and Checkout.com, among others.
- Banks and financial institutions: BlackRock, BNY, Standard Chartered, DBS, U.S. Bank, BBVA, Commonwealth Bank of Australia, Chime, SoFi, and dozens of regional and national banks across Asia, Latin America, the Middle East, and Africa.
- Technology and commerce platforms: Google, Samsung Electronics, IBM, Shopify, Mercado Libre, DoorDash, Wix, Grab, and Rakuten.
- Crypto-native firms: Coinbase, Ripple, Solana, Bybit, OKX, Fireblocks, Gemini, MetaMask, and other wallet, exchange, and infrastructure companies.
Why now? The announcement cites a16z’s 2025 State of Crypto report, noting that stablecoin transaction volume is nearing that of the ACH network. In response to this growth, the companies behind Open USD identified three main challenges for businesses using current stablecoins: high fees for large-volume minting and redemption, reserve earnings not being returned to businesses that generate transaction volume, and limited input into issuers’ product roadmaps.
The announcement provides no specific launch date beyond “later this year” and does not disclose the reserve asset composition, management fee, regulatory approval status, or initial integration partners. Interested companies are advised to contact Open Standard directly.
Where does India stand? In December 2025, Reserve Bank of India Deputy Governor T. Rabi Sankar stated at the Mint Annual BFSI Conclave that stablecoins offer no meaningful benefit to the financial system, suggesting that central bank digital currencies (CBDCs) can fulfill their functions more effectively. He argued that stablecoins, as private money, undermine the unity of currency, and their supposed cross-border advantages are matched or…
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