Open Standard unveils dollar stablecoin
Switch language:
.translate -->
Open USD will be operated by Open Standard. Credit: Matt Fowler KC/ Shutterstock.com.
Open Standard, a new independent company led by stablecoin infrastructure company Bridge co-founder Zach Abrams, is preparing to launch a new stablecoin.
Backed by more than 140 businesses including Visa and Mastercard, the venture will issue a US-dollar pegged stablecoin called Open USD later this year.
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Find out more
In a statement, the company said Open USD is based on “three design principles” focused on scale, economics and governance. It said businesses will be able to mint and redeem Open USD at “no cost” and without artificial volume limits, while partners will receive earnings generated from Open USD’s reserves after deducting a small management fee to cover operational costs.
Open USD will be operated by Open Standard, with a board made up of Open USD’s partners.
Open Standard founding CEO Zach Abrams said: “Existing stablecoins have great strengths, but to use them at scale, businesses need something that’s open, low-cost, high-throughput, broadly accessible, and aligned to their interests.
“We’re thrilled to bring together over 140 businesses to launch Open USD. It’s a stablecoin built for the internet economy, designed by the businesses growing it.”
Stablecoins are digital tokens designed to maintain a stable value and are typically backed by traditional currencies such as the US dollar or euro. Despite increased regulatory attention, stablecoins are still largely used within crypto markets to support trading in other digital assets and are not yet widely used for everyday payments.
In the UK, the Financial Conduct Authority (FCA) recently reduced proposed capital requirements for stablecoin issuers.
Under the updated proposal, stablecoin issuers would need to hold capital equal to 1% of the total value of stablecoins they issue, down from 2% in earlier plans.
-->
Sign up for our daily news round-up!
Give your business an edge with our leading industry insights.
Sign up
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Find out more
News
Paytm Europe wins CSSF payment institution licence
News
PayPal joins EPC amid focus on interoperability and instant payments
News
Visa announces Visa Threat Intelligence Platform to strengthen cyber and fraud defence
News
Worldline, ING and Visa complete a live agentic payment transaction in Europe
Sign up for our daily news round-up!
Give your business an edge with our leading industry insights.
Give your business an edge with our leading industry insights.
close
close
Sign up to the newsletter: In Brief
Industry *
Academia & Education<br>Aerospace, Defense &<br>Security<br>Agriculture<br>Asset Management<br>Automotive<br>Banking & Payments<br>Chemicals<br>Construction<br>Consumer<br>Foodservice<br>Government, trade bodies<br>and NGOs<br>Health & Fitness<br>Hospitals & Healthcare
HR, Staffing &<br>Recruitment<br>Insurance<br>Investment Banking<br>Legal Services<br>Management Consulting<br>Marketing & Advertising
Media & Publishing<br>Medical Devices<br>Mining<br>Oil & Gas<br>Packaging<br>Pharmaceuticals<br>Power & Utilities<br>Private Equity<br>Real Estate<br>Retail<br>Sport<br>Technology<br>Telecom<br>Transportation &<br>Logistics<br>Travel, Tourism &<br>Hospitality<br>Venture Capital
Country *<br>UK<br>USA<br>Afghanistan<br>Åland Islands<br>Albania<br>Algeria<br>American Samoa<br>Andorra<br>Angola<br>Anguilla<br>Antarctica<br>Antigua and Barbuda<br>Argentina<br>Armenia<br>Aruba<br>Australia<br>Austria<br>Azerbaijan<br>Bahamas<br>Bahrain<br>Bangladesh<br>Barbados<br>Belarus<br>Belgium<br>Belize<br>Benin<br>Bermuda<br>Bhutan<br>Bolivia<br>Bonaire, Sint Eustatius and Saba<br>Bosnia and Herzegovina<br>Botswana<br>Bouvet Island<br>Brazil<br>British Indian Ocean Territory<br>Brunei Darussalam<br>Bulgaria<br>Burkina Faso<br>Burundi<br>Cambodia<br>Cameroon<br>Canada<br>Cape Verde<br>Cayman Islands<br>Central African Republic<br>Chad<br>Chile<br>China<br>Christmas Island<br>Cocos Islands<br>Colombia<br>Comoros<br>Congo<br>Democratic Republic of<br>the Congo<br>Cook Islands<br>Costa Rica<br>Côte d"Ivoire<br>Croatia<br>Cuba<br>Curaçao<br>Cyprus<br>Czech Republic<br>Denmark<br>Djibouti<br>Dominica<br>Dominican Republic<br>Ecuador<br>Egypt<br>El Salvador<br>Equatorial Guinea<br>Eritrea<br>Estonia<br>Ethiopia<br>Falkland Islands<br>Faroe Islands<br>Fiji<br>Finland<br>France<br>French Guiana<br>French Polynesia<br>French Southern Territories<br>Gabon<br>Gambia<br>Georgia<br>Germany<br>Ghana<br>Gibraltar<br>Greece<br>Greenland<br>Grenada<br>Guadeloupe<br>Guam<br>Guatemala<br>Guernsey<br>Guinea<br>Guinea-Bissau<br>Guyana<br>Haiti<br>Heard Island and McDonald Islands
Holy See<br>Honduras<br>Hong Kong<br>Hungary<br>Iceland<br>India<br>Indonesia<br>Iran<br>Iraq<br>Ireland<br>Isle of Man<br>Israel<br>Italy<br>Jamaica<br>Japan<br>Jersey<br>Jordan<br>Kazakhstan<br>Kenya<br>Kiribati<br>North Korea<br>South Korea<br>Kuwait<br>Kyrgyzstan<br>Lao<br>Latvia<br>Lebanon<br>Lesotho<br>Liberia<br>Libyan Arab Jamahiriya<br>Liechtenstein<br>Lithuania<br>Luxembourg<br>Macao<br>Macedonia, The Former<br>Yugoslav Republic of<br>Madagascar<br>Malawi<br>Malaysia<br>Maldives<br>Mali<br>Malta<br>Marshall...