Story perspectives

140-Company Consortium Launches Open USD Stablecoin, Circle Shares Fall

7/1/2026

Summary

Consortium Launches OUSD

140-company consortium announced Open USD (OUSD), a dollar-pegged stablecoin.
Members include Visa, Mastercard, Stripe, BlackRock, Coinbase and banks, fintechs and crypto firms.
OUSD will return most reserve-interest after a small fee, have no minting or volume caps, and launch in 2026 on Solana, Stellar, Base and Polygon.
Circle’s shares fell 13% to $66, then to $63.63 after the announcement, and the stablecoin market, about $321 billion, could reach $4 trillion by 2030.

Summary

Stripe Launches OUSD

Stripe announced Open USD as the default stablecoin for businesses on its platform, signaling a push into the stablecoin market.
The consortium uses a traditional-payment-network governance model with an independent board of partners rather than a single issuer.
Analysts warn that coordinating over 140 partners could hinder scaling, noting previous consortiums achieved little.
Circle CEO Jeremy Allaire downplayed threat, while Borderless.xyz CEO Kevin Lehtiniitty said Stripe is coming for Circle.

Summary

Open Standard Launches

Open Standard launched Open USD under U.S. President Donald Trump after the GENIUS Act, offering limited regulatory clarity.
The design mirrors Meta’s 2019 Libra/Diem project, with Meta absent from the partner list despite prior hints.
Simon Taylor called the credible neutrality a modern version of early SWIFT clearing-house cap tables.
Bitcoin purists see deeper institutional capture, while Amboss likens Open USD to a neutral Lightning-like settlement layer.

History

Historical Context

Facebook announced its Libra stablecoin in June 2019, backed by a $100 million reserve and a consortium that included Visa and PayPal. Intense scrutiny from U.S. regulators and departing members forced a rebrand to Diem, which was wound down and sold to Silvergate in January 2022. The Open USD launch in 2026 draws on that legacy, stressing clear U.S. oversight and a broader partner network.

1 of 4

Consortium Launches OUSD

140-company consortium announced Open USD (OUSD), a dollar-pegged stablecoin.
Members include Visa, Mastercard, Stripe, BlackRock, Coinbase and banks, fintechs and crypto firms.
OUSD will return most reserve-interest after a small fee, have no minting or volume caps, and launch in 2026 on Solana, Stellar, Base and Polygon.
Circle’s shares fell 13% to $66, then to $63.63 after the announcement, and the stablecoin market, about $321 billion, could reach $4 trillion by 2030.

1 / 4