A new stablecoin called OUSD officially launched on June 30, 2026, backed by a high-profile consortium of financial giants including Visa, Mastercard, BlackRock, Stripe, and Coinbase, alongside more than 140 other companies. The project, governed by the Open Standard consortium, aims to reshape corporate payments and settlement by offering a digital dollar that operates under shared governance rather than a single issuer.
Unlike existing stablecoins such as USDT or USDC, OUSD is designed with a partner-led board structure that gives participating firms a direct role in decision-making and product direction. Reserve earnings are shared among partners after management fees, creating a financial incentive for wider adoption. The model also features free minting and redemption, eliminating transaction fees for corporates, and has no fixed supply limits—supply can scale with demand from business users.
The consortium’s breadth is striking. Beyond the core payments and asset management leaders, participants include BNY, Google, IBM, Ripple, OKX, Standard Chartered, BBVA, DBS, Mizuho, MoonPay, Rakuten Group, and Crypto.com. A substantial Korean cohort has also joined: Samsung Electronics, Hanwha Group, Dunamu, Shinhan Financial Group, K-Bank, KB Kookmin Card, Samsung Card, BC Card, Hana Card, Hyundai Card, NH Nonghyup Card, and Woori Card.
OUSD targets low-cost, high-throughput settlement for payments, treasury operations, and remittances. The involvement of Visa and Mastercard provides direct links to global merchant networks, while BlackRock’s asset management expertise and Coinbase’s custody infrastructure add institutional-grade trust. Analysts note that the stablecoin market, which already exceeds $150 billion in total supply, could see a significant shakeup if OUSD gains regulatory approval and merchant adoption. The stablecoin remains on track for a full rollout in the second half of 2026, setting the stage for what may become the most serious institutional challenge yet to incumbent stablecoin issuers.
