Open USD Consortium Launches to Challenge USDC and Tether Dominance
Over 140 firms including Visa, Mastercard, BlackRock, and Aptos have formed a consortium to launch Open USD stablecoin with zero-fee minting.
Summary
- Over 140 firms including Visa, Mastercard, BlackRock, and Aptos have formed a consortium to launch Open USD stablecoin with zero-fee minting.
- The new stablecoin targets enterprise users of USDC and Tether through shared reserve income and support on Solana, Stellar, Base, and Polygon.
- Ripple joins as a day-one integration partner as the project prepares for a later 2026 launch.
More than 140 companies have joined to launch Open USD. Visa, Mastercard, and BlackRock sit among them. The stablecoin aims straight at USDC and Tether.
It promises zero-fee minting plus shared reserve income. The target date sits later in 2026.
Support starts on Solana, Stellar, Base, and Polygon.
Context
Stablecoin volumes keep rising for payments. USDC and Tether still hold most market share. Fresh projects now push open governance and lower costs to pull in institutions.
The July 2026 timing fits that trend. The group wants shared infrastructure instead of one firm in charge.
Details
The pitch centers on zero fees and shared income. These features stay on the drawing board for now since Open USD has not launched yet.
Four chains will run it from the start. Aptos, Visa, Mastercard, and BlackRock count among the first partners.
"The consortium is pitching zero-fee minting and shared reserve income to prise enterprise users away from USDC and Tether."
, Source (thenextweb.com)
Ripple signs on as an integration partner right away. That choice lines up with its push for open multichain payments over its own RLUSD alone.
Outlook
The group will settle governance and reserves before the 2026 launch. Additional chains will follow after rollout.
