Visa and Mastercard back Open USD stablecoin launch

The project promises a neutral governance model where participants receive a share of the reserve earnings, minus operational costs. By aligning the economic interests of network members, the consortium hopes to solve the scalability issues that have previously limited stablecoin adoption in corporate payments. Open Standard CEO Zach Abrams emphasized that existing market solutions lack the commercial accessibility required for large-scale enterprise integration.

Institutional appetite for tokenized assets is intensifying as firms look to move beyond basic trading functions. Visa reported a $7 billion run rate for its stablecoin settlement pilot as of March 2026, alongside 160 active or developing card programs. This shift follows the implementation of the GENIUS Act, which established a federal regulatory framework for stablecoins in the U.S. As competition grows—evidenced by the formation of the European Qivalis consortium and the earlier Global Dollar Network—Open Standard is positioning its fee-free structure as the definitive utility layer for global commerce.