Cointelegraph·13h ago·positive

Visa, Mastercard, Coinbase and Ripple back new Open USD stablecoin to challenge USDT and USDC

Over 140 companies including Visa, Mastercard, Coinbase and Ripple are backing Open USD (OUSD), a stablecoin that lets businesses keep reserve earnings, positioning it to challenge Tether and Circle.

Open USD (OUSD) is backed by over 140 companies including Visa, Mastercard, Coinbase, Ripple, OKX and Bybit.
Businesses can mint OUSD at no cost and keep all earnings from the coin's reserve assets.
Circle's stock dropped over 16% on the news, while Circle CEO Jeremy Allaire welcomed the competition.
The stablecoin market is currently over $312 billion and projected to reach $4 trillion by 2030.
OUSD will launch later this year under the US GENIUS Act regulatory framework signed into law in 2025.

defiregulationImpact 8/10

Why our editor rated this positive

Major traditional finance and crypto companies collaborating on a stablecoin signals mainstream adoption and competition that benefits consumers. The GENIUS Act framework provides regulatory clarity.

Read the full story at Cointelegraph

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Last updated 1 Jul 2026

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