Open Standard announced the launch of OpenUSD (OUSD), a stablecoin backed by over 140 firms including Visa, Mastercard, BlackRock, Coinbase, and Ripple, expected later this year on Solana and Tempo. The stablecoin addresses high minting fees, lack of reserve revenue sharing, and limited developer influence. OUSD uses a consortium-governance model where partners share reserve earnings after a management fee and participate in governance through the Open Standard board.
OpenUSD Launch Details and No-Fee Structure
Open Standard said OUSD aims to address business concerns around stablecoin costs, limits, and control. The firm said many companies still face high fees when minting or redeeming stablecoins at large scale. The platform also said businesses often do not share in the revenue earned from underlying reserves and developers may have limited influence when an issuer's product plans do not match their needs.
OUSD will allow businesses to mint and redeem the stablecoin with no fees and no artificial limits on volume, according to Open Standard. The company said this structure is designed to support payments, settlement, and internet-based finance. The stablecoin is expected to launch on layer-1 networks such as Solana and Tempo. Solana said OUSD will be issued natively on its network from day one.
Partners Share Reserve Earnings Under Consortium Model
Open Standard said reserve earnings from OUSD will be shared with partners, except for a small fee used to cover operating costs. The company said partners will also take part in joint governance. The model differs from single-issuer stablecoins, where one issuer often controls product changes, reserve revenue and network decisions. Open Standard said OUSD is designed around partner participation and shared decision-making.
BlackRock's Global Head of Market Development, Samara Cohen, said stablecoins can play a role in digital markets when backed by trusted infrastructure and real use cases. "Open USD is a constructive step toward giving businesses more choice in how they access tokenized value and participate in internet-native digital rails," Cohen said.
Coinbase Chief Business Officer Shan Aggarwal said stablecoins are one of the main developments in payments. He said more shared infrastructure could help close the gap between current payment systems and faster digital payment rails.
Ripple Integrates OUSD as Day-One Partner
Ripple said it is joining Open USD as a day-one integration partner. The company said stablecoins are changing how value moves and that interoperability is needed for institutional scale. Ripple President Monica Long said the future of payments will be "multichain, interoperable, and built on institutional-grade blockchain infrastructure." She said Ripple will continue working to make the XRP Ledger a leading blockchain for institutional payments.
Long also said Ripple sees XRPL as a "natural home" for future regulated stablecoins while growing the use of RLUSD and XRP globally. Her comments reflect Ripple's focus on payments, stablecoins and institutional blockchain use. The OUSD plan follows other stablecoin-linked work among major firms. Earlier this month, Ripple and Coinbase backed Mastercard's AI agent payment system, which is expected to use stablecoins.
CLARITY Act Procedural Timeline and Passage Odds
The OUSD announcement comes as U.S. digital asset policy remains under review. Patrick Witt, Executive Director of the President's Council of Advisors for Digital Assets, said clear rules can unlock value for the sector. "What GENIUS did for stablecoins, the Clarity Act will do for all other digital assets," Witt said, referring to pending U.S. market structure legislation.
However, the CLARITY Act faces an uncertain timeline, with Polymarket odds for 2026 passage having dropped to a range of 42% to 48%. TD Cowen's Washington Research Group said Senate Majority Leader John Thune may begin the procedural process during the week of July 13. That could set up a floor vote during that week or the week of July 20. TD Cowen analyst Jaret Seiberg said July 24 is a key deadline before the House leaves for its August recess. "We continue to question if the bill can pass in the fall before the election," Seiberg wrote.
FAQ
What is OpenUSD and when will it launch?
OpenUSD (OUSD) is a stablecoin announced by Open Standard with backing from over 140 firms including Visa, Mastercard, BlackRock, Coinbase, and Ripple. The stablecoin is expected to launch later this year on layer-1 networks such as Solana and Tempo.
How does the OpenUSD consortium governance model work?
Under the consortium-governance model, partner firms share earnings from reserve assets after a small management fee and participate in governance through the Open Standard board. This differs from single-issuer stablecoins where one entity controls product changes, reserve revenue, and network decisions.
What is the timeline for the CLARITY Act procedural process?
TD Cowen's Washington Research Group said Senate Majority Leader John Thune may begin the procedural process during the week of July 13, with a potential floor vote during that week or the week of July 20. July 24 is a key deadline before the House leaves for its August recess.
