Solana Lands Massive New Stablecoin
A new stablecoin backed by Visa, Mastercard, and Google is coming to challenge Tether and Circle! 🪙 Here is how Open USD plans to change the game.
What the video says
A massive consortium is launching a paradigm-shifting stablecoin designed to completely strip power from traditional single issuers. On Tuesday, a group of more than 140 financial and technology giants introduced a historic dollar-backed token called OpenUSD.
This new digital asset, ticker OUSD, is operated by an independent firm named Open Standard, led by founding CEO Zac Abrams. Unlike traditional setups, the network is backed by world-class heavyweights including Visa, Mastercard, Stripe, BlackRock, and Google.
The seismic twist here is the shared economics, which completely inverts the incumbent model where issuers pocket all the interest. Under this unprecedented design, corporate partners will receive nearly all of the earnings generated on the token's reserves after a basic fee.
Adopting businesses can also mint and redeem the stablecoin at absolutely no cost and with no volume caps. Solana has already secured the coveted spot as the native launch blockchain for the token's first day of release.
Yet, a notable transparency gap remains, as Open Standard has not disclosed its specific custodians or attestation cadence. While they promise compliance with US regulations, the actual regulated entity behind the issuance is still a mystery.
Major competitors like Circle, Tether, and PayPal are completely left out of this new alliance. With no firm launch date set beyond 2026, this massive coalition is officially ready to challenge the stablecoin status quo.
