Stripe, Coinbase, Visa, and BlackRock back new Open USD stablecoin network

A consortium of over 140 companies including Stripe, Coinbase, Visa, Mastercard, BlackRock, and Google has launched Open USD (OUSD), a dollar-backed stablecoin network that lets businesses issue and move digital dollars while sharing in the economic returns.

• More than 140 companies across payments, banking, and crypto have launched Open USD (OUSD), a new dollar-backed stablecoin network.
• Backers include Stripe, Coinbase, Visa, Mastercard, BlackRock, Google, Ripple, BNY, and major banks from multiple countries.
• The network is governed by an independent non-profit called Open Standard, not a single issuer.
• Participating businesses can keep most of the interest earned on reserves backing the token, unlike traditional stablecoin models.
• The consortium predicts stablecoins could grow to $1.5 trillion by 2030.

Coinporta summarises news for fast scanning. Full reporting belongs to the source.