Open USD stablecoin launches with 140+ backers
A new dollar-pegged token backed by a large consortium that includes major payments and asset-management names entered the stablecoin market.
Mateo Fernandez ·
Open USD, a new US dollar-pegged stablecoin backed by more than 140 companies, has launched, expanding competition in the fast-growing stablecoin segment of crypto markets. The consortium includes Visa, Mastercard, BlackRock and Coinbase, the project said.
Open USD consortium includes Visa and Coinbase
The launch adds another entrant to a market where stablecoins are used as trading collateral, on-chain settlement assets and a bridge between traditional finance and crypto rails. Support from large payments and finance brands could speed distribution, merchant acceptance and integrations with exchanges and wallets, depending on how issuance, reserves and redemption channels are structured.
Key near-term questions for investors and users include who issues the token, what backs it, how reserves are held and audited, and whether redemptions are available directly to end users or only to intermediaries. Those details typically shape a stablecoin’s liquidity, peg stability and regulatory posture.
The launch also arrives as regulators in multiple jurisdictions continue to tighten expectations around reserve quality, disclosures and governance for fiat-referenced tokens, raising the bar for compliance and transparency.
Further project disclosures on issuance, reserve reporting and redemption mechanics are expected by July 7, 2026.