A group of more than 140 financial and crypto firms, including Visa, Mastercard, BlackRock, Coinbase, and American Express, has launched the Open Standard stablecoin network. The initiative aims to build shared blockchain infrastructure for global payments and settlement.
The initiative will introduce a U.S. dollar–pegged stablecoin called Open USD. It is expected to launch later this year, according to Reuters.
The platform targets large-scale digital payments and cross-border transfers. It aims to improve speed, cut costs, and increase access using blockchain-based settlement systems.
“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,” said Open Standard founding CEO Zach Abrams in a statement.
The launch of the network comes as the United States continues shaping rules for digital assets. Last year, U.S. President Donald Trump signed the GENIUS Act into law, creating the first federal framework for stablecoins.
The law set clear guidelines for issuing and regulating dollar-backed digital tokens. Industry experts say it has created clearer conditions for stablecoin adoption in mainstream finance.
The ecosystem brings together major players from traditional finance and crypto. It reflects growing interest in shared blockchain payment rails that can connect banks, fintech platforms, and digital asset networks.
Open USD will act as the main settlement asset once the system goes live. The Open Standard stablecoin network is expected to expand further as more institutions join and expand.
The Open Standard stablecoin network marks a major step in blockchain-based payments. It brings together traditional finance and crypto firms under a shared system.
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