Bankless · Friday, July 3, 2026
A new stablecoin, OpenUSD, has been launched by OpenStandard with backing from over 60 major financial and tech companies including Visa, Stripe, MasterCard, BlackRock, and Google. This initiative aims to compete directly with existing stablecoins like Circle's USDC and Tether. Circle's market value reportedly dropped 17% following the announcement.
“The world's largest financial institutions just launched a brand new stablecoin co-op to compete with Circle and Tether, calling it OpenUSD from OpenStandard. Names like Visa, Stripe, MasterCard, BlackRock, Google, Coinbase. 60 plus names, Circle dropped 17% on the news.”
“Is this the first USD killer to come on the scene in a while or just the world's biggest letter of intent?”
“So they have all the big payment companies. DoorDash, Samsung, IBM. They have all the big banks that you can think of. Shopify, MercadoLibre. They have all the big tech companies. Coinbase, Tempo, Bybit, American Express, MasterCard. They got everyone.”