Visa, Mastercard, Coinbase Join 140-Firm Push to Launch Dollar Stablecoin OUSD

More than 140 financial and cryptocurrency companies, including Visa, Mastercard and Coinbase, are joining forces to launch a U.S. dollar-pegged stablecoin.

Open Standard plans to launch OpenUSD, or OUSD, later this year, Cointelegraph reported on July 30. Participants include Visa, Mastercard, Coinbase, Ripple, OKX and Bybit.

OUSD will allow companies to issue the token at no cost and without a cap on supply. The structure also sends yield generated from reserves directly to holders, setting it apart from existing stablecoin issuers that typically retain that income.

“The signal is clear when Visa, Stripe, Mastercard, Coinbase and Google all move together on a new stablecoin,” Rhino.fi co-founder and Chief Executive Officer Will Harborne said. He added that OUSD is the first project that could meaningfully take market share from Tether's USDT and Circle's USDC because reserve yield is distributed to all holders.

Circle Internet Group shares fell more than 16% on July 30 to close at $63.63 after news of the OUSD launch spread. Chief Executive Officer Jeremy Allaire wrote in a post on X that he welcomed continued innovation and competition in the sector and that support for dollar-pegged and non-dollar stablecoins would expand soon.

The stablecoin market has surpassed $312 billion, according to DefiLlama, and could reach as much as $4 trillion by 2030. In the U.S., the foundation for further market growth was put in place after President Donald Trump signed the GENIUS Act last year, creating a regulatory framework for payment stablecoins.