Ripple, Visa, BlackRock Join 140+ Firms to Back Open USD Stablecoin

• Open Standard unveiled Open USD, a stablecoin with backing from Ripple, Visa, BlackRock, and more than 140 partners
• The enterprise-focused stablecoin is slated to launch later this year with native support for Solana
• Open USD aims to offer zero-fee minting, shared governance, and reserve earnings for participating businesses

Stablecoins are no longer limited to the cryptocurrency industry. These assets are garnering attention from some of the biggest names in finance, payments, and crypto. This is what makes the newly announced Open USD stablecoin stand out. Before it has even gone live, the project has secured support from more than 140 companies. This includes Ripple, Visa, Stripe, and BlackRock, as businesses increasingly look beyond traditional payment rails toward blockchain-based settlement.

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Open USD Stablecoin Brings Together Ripple, Visa and BlackRock

Open Standard on Tuesday introduced Open USD (OUSD), a dollar-pegged stablecoin built for enterprise payments, cross-border transfers and merchant settlements. The token is expected to launch later this year with native support for the Solana blockchain.

Unlike most stablecoins, OUSD won’t be managed by a single issuer. Instead, participating companies will help govern the network through an independent board. Meanwhile, reserve earnings will be shared across partners after operating costs are deducted.

That collaborative model has already attracted an extensive list of backers. Alongside Ripple, Open USD stablecoin has received support from Visa, Stripe, Mastercard, BlackRock, BNY, Google, Shopify, Coinbase, Solana, and dozens of banks, fintech companies, and crypto firms. Samara Cohen, Global Head of Market Development at BlackRock, addressed the stablecoin and said,

“We believe stablecoins can play an important role in the evolution of digital markets when supported by trusted infrastructure and practical utility. Open USD is a constructive step toward giving businesses more choice in how they access tokenized value and participate in internet native digital rails.”

Open Standard says businesses will be able to mint and redeem the Open USD stablecoin without fees or volume restrictions. This makes it more practical for large-scale commercial payments. Several partners also see stablecoins moving well beyond crypto trading. Coinbase Chief Business Officer Shan Aggarwal called stablecoins “the most important thing happening in payments right now.” Meanwhile, Stripe President Will Gaybrick said OUSD is expected to become the default stablecoin for businesses using Stripe.

This new venture seems to be taking off at a favorable time. According to CoinGecko, the stablecoin market has grown beyond $300 billion. It should be noted that Tether’s USDT and Circle’s USDC still account for most of the circulating supply.

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Regulatory Clarity is Encouraging New Stablecoin Projects

The announcement comes as the US moves closer to implementing the GENIUS Act, legislation that establishes a federal framework for payment stablecoins.

While the GENIUS Act is still awaiting final implementation rules, it has already given financial institutions a clearer picture of how regulated stablecoins will operate. The framework sets standards for reserves, redemption policies and issuer oversight, giving banks, payment companies and fintech firms more confidence to invest in stablecoin infrastructure.

This changing regulatory landscape helps explain why companies are lining up behind the Open USD stablecoin before it’s even available. Rather than waiting until every rule is finalized, many are positioning themselves early for what they see as the next phase of digital payments. Yet, the GENIUS and CLARITY Act are expected to be extremely pertinent for the US regulatory scene.

For Open USD partners, the goal is bigger than launching another dollar-backed token. The consortium is betting that an open governance model, shared economics and participation from both traditional finance and crypto firms will give OUSD a stronger foundation. This comes as competition in the stablecoin market continues to intensify.

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