#OUSD稳定币上线 140 global giants join forces to release new stablecoin, completely rewriting the old landscape

On June 30, a major announcement shook the global digital finance circle: the stablecoin Open USD (OUSD), jointly built by over 140 global financial, payment, and technology companies, was officially released, completely breaking the industry norm of single-institution-led stablecoin issuance and bringing new variables to the global stablecoin market, which exceeds $250 billion in size.
This cooperation list is highly impactful, covering the four major payment networks Visa, Mastercard, American Express; top asset managers and multinational banks such as BlackRock, Standard Chartered, and Bank of New York; internet platforms like Google, Samsung, and Shopify; as well as digital asset service providers like Coinbase and Ripple. Companies that originally competed with each other in payments and cross-border businesses are now jointly building a shared stablecoin infrastructure, a first in the industry's history.
Comparing with the current mainstream stablecoins on the market, the underlying logic is vastly different. Existing USDT and USDC hold over 90% of market share, with issuers retaining all reserve asset income alone, and setting fee thresholds for minting and large redemptions.
The core design of Open USD directly targets industry pain points: enterprise minting and redemption are completely fee-free, with the majority of reserve income, after deducting basic operational costs, shared among over 140 alliance partners, and governance jointly controlled by a multi-party board, without any single enterprise monopolizing decision-making power.
From a regulatory perspective, the project fully adapts to current global compliance systems, incorporating the hard requirements of the U.S. GENIUS Act and the EU's MiCA regulations regarding reserves, audits, and redemptions into the underlying design, distinguishing it from the eventual dissolution of Libra in its early days due to a lack of regulatory framework. BlackRock publicly predicts that the global stablecoin market could exceed $1.5 trillion by 2030, with compliance and multi-party governance as the industry's long-term development mainstream.
But the new player still faces three real-world challenges:
First, how to unify governance decisions among 140 enterprises with vastly different business models;
Second, the high compliance costs of cross-border implementation due to varying regulatory standards across global countries;
Third, the existing two leaders have accumulated significant liquidity over the years, creating barriers for market user migration.
Currently, the initial circulation of Open USD is only $3 billion, a significant gap compared to USDT's $145 billion and USDC's $73 billion, making it difficult to quickly change the existing landscape in the short term. From a long-term industry perspective, the greatest significance of this alliance is not the introduction of a new token, but the reconstruction of the profit distribution and governance rules of stablecoins. In the past, stablecoin income was highly concentrated; now, the multi-party sharing model has landed, essentially representing the active participation of traditional finance and internet industries in the standardization of digital cross-border fund flows. Digital financial innovation always builds on a compliance baseline. Regulators in various countries continue to improve stablecoin access, reserve, and information disclosure rules. Multi-party co-building, transparency, and controllability are the sustainable development directions of the industry. In the future, the stablecoin track will not be a zero-sum game; only by coexisting multiple models under a unified regulatory framework can it better serve the cross-border fund flow needs of global enterprises.