Open Standard, an independent company led by founding CEO Zach Abrams, launched Open USD, a new stablecoin built to move money worldwide, backed by more than 140 businesses including Visa, Stripe, Mastercard, Shopify, and BlackRock. Businesses can mint and cash out Open USD for free with no volume limits, pocket the yield on its reserves aside from a small management fee, and share governance through a partner-led board, a pitch against the fees and single-issuer control of existing stablecoins. Stripe will make Open USD its default stablecoin for businesses on its platform when the coin goes live later this year, with launch partners spanning card networks, banks, and commerce platforms like Mercado Libre, DoorDash, and Rakuten.
