A consortium of more than 140 companies led by Visa, Mastercard, and Coinbase has launched a new global stablecoin called Open USD. The news, reported by Reuters, marks a significant step toward mass adoption of dollar-pegged digital currencies. The platform underlying the coin is called Open Standard, an open network designed to facilitate fast, low-cost transactions.
Open Standard aims to accelerate global stablecoin usage
The Open Standard initiative stems from the desire to overcome the limitations of existing stablecoins, which according to CEO Zach Abrams are not yet ready for large-scale business use. "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," Abrams told Reuters. Open USD will be pegged to the US dollar with 1:1 reserves, ensuring value stability.
The regulatory backdrop and the GENIUS Act
The launch of Open USD follows the passage of the GENIUS Act by President Trump, which created a regulatory framework for stablecoins in the United States. The law requires issuers to hold 100% reserves and introduces anti-money laundering rules and consumer protections in case of issuer bankruptcy. This regulatory environment favors initiatives like those of Visa, Mastercard, and Coinbase, aiming to offer a regulated and transparent financial tool.
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Comparison with PayPal USD and current stablecoin usage
This move follows the introduction of PayPal USD, launched in 2023, which has maintained stability near $1. However, research indicates that stablecoins are still primarily used for trading crypto assets rather than for actual purchases. Open USD aims to change this dynamic by providing an infrastructure designed for e-commerce and everyday payments.
The Trump administration's influence and criticism
The Trump administration has been extremely friendly to the crypto industry. Former PayPal executive David Sacks was appointed "White House A.I. & Crypto Czar" but left the post in March 2026 after ethics concerns over conflicts of interest. Meanwhile, President Trump has earned over $1.4 billion in cryptocurrencies during his first year back in office by issuing tokens to his supporters. This scenario raises questions about market transparency, while Bitcoin has lost nearly 50% of its value over the past year.
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For more on tech regulatory issues, see the article on Anthropic restoring global access to Claude Fable 5. Another useful link for financial automation is AI for Accounting and Administration. For further reading on stablecoins, refer to the Wikipedia page.
Source: https://www.engadget.com/2206043/visa-mastercard-and-coinbase-have-launched-a-new-global-stablecoin
