140 companies are planning to launch a stablecoin

An alliance of 140 giants (Visa, Stripe, Mastercard, BlackRock, U.S. Bank, Google, Samsung, Coinbase, Solana, Ripple, and others) plans to launch a free stablecoin Open USD, a competitor to USDT and USDC.

Open USD (OUSD) is a new dollar-pegged stablecoin created for a total restructuring of the digital payments economy. The Open Standard project is led by Zach Abrams, co-founder of the payment platform Bridge (which Stripe bought for $1.1 billion).

The thing is that the current market leaders (Tether and Circle) operate on the classic model: they take users' dollars, pack them into US Treasuries, take all 100% of the yield for themselves, and in return issue tokens.

OUSD breaks this model:

• Zero fees: Companies can mint and redeem Open USD in any volumes with zero fees and no turnover limits.

• Profit distribution to partners: Open Standard will not take the income from reserves for itself. All interest income from the bonds that maintain the OUSD peg is directly distributed to partner companies.

• Collective governance: The fate of OUSD is decided not by a single issuer, but by an independent board of directors consisting of participating companies.

The official launch of Open USD is planned for the end of 2026.

What do you think, is this the decline of the Tether and Circle monopoly, or is there room for everyone?

BlackRock predicts that the stablecoin market will reach $1.5 trillion by 2030 🤔