140 Giants Including Visa and BlackRock Unite to Launch a New Altcoin

The world’s largest payment giants and financial institutions have formed a massive consortium for the Open USD (OUSD) project, a new stablecoin that shares reserve income with partners.

In a revolutionary step for the financial world, more than 140 companies, including giants such as Visa, Mastercard, BlackRock, and Coinbase, have announced a new cryptocurrency project called Open USD (OUSD). United under the Open Standard umbrella, this massive community aims to rebuild the bridge between traditional finance and digital assets with a more transparent and profitable model.

Unlike existing models, this new digital asset will share a large portion of the income generated from its reserves with participating businesses. Companies will be able to mint and redeem OUSD without any transaction fees or volume limits. This model ensures that the digital dollar is not just a payment tool, but also a sustainable source of income for its stakeholders.

Joint Stablecoin Move from Financial Giants

The project’s governance structure will be controlled by an independent organization shared among partner companies, rather than a single central issuer. Technology giants like Google, IBM, and Shopify, as well as crypto-focused firms like Ripple and MetaMask, will be part of this ecosystem. Visa‘s head of crypto, Cuy Sheffield, emphasized that this initiative is a shared infrastructure designed for the global financial system.

While OUSD is expected to launch toward the end of this year, it has been announced that the Tempo network will support this asset natively from day one. Platforms like Stripe plan to make Open USD the default payment option for businesses. Just like the technological touches in the digital currency’s visuals, this new system will combine the power of the traditional dollar with modern blockchain technology, making the financial ecosystem fully compatible with the digital age.