{"id":2593,"date":"2026-07-01T08:40:57","date_gmt":"2026-07-01T08:40:57","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=2593"},"modified":"2026-07-01T08:40:57","modified_gmt":"2026-07-01T08:40:57","slug":"stripe-visa-and-over-140-other-businesses-to-launch-stablecoin-to-rival-tether-and-circle","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=2593","title":{"rendered":"Stripe, Visa and over 140 other businesses to launch stablecoin to rival Tether and Circle"},"content":{"rendered":"
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OUSD will launch later this year and is structured to return most reserve revenue, or interest earned on the assets backing it, minus a small management fee, to participants. Open Standard did not disclose on which blockchain the stablecoin will operate.<\/p>\n

Read more Tom Kean discloses depression diagnosis behind 4-month absence from Congress: \u2018until you experience it yourself, it is difficult to fully understand\u2019<\/a><\/p>\n

\u201cIt\u2019s a stablecoin built for the internet economy, designed by the businesses growing it,\u201d Zach Abrams, interim CEO of Open Standard, said in a statement. Abrams is also the cofounder of the stablecoin startup Bridge, which Stripe acquired for $1.1 billion in 2025.<\/p>\n

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The new initiative appears to be a serious challenge to Tether and Circle, which have long dominated the market for stablecoins, or cryptocurrencies pegged to real-world assets like the U.S. dollar. In April, Tether\u2019s stablecoin, USDT, accounted for about 62% of the stablecoin market, while Circle\u2019s USDC held roughly 25%, according to a report from the crypto analytics company CoinGecko.<\/p>\n

Circle\u2019s stock slipped 13% after the announcement and now trades at $66 per share.<\/p>\n

\u201cWe welcome continued innovation and competition in the space,\u201d Circle CEO Jeremy Allaire wrote on X following the announcement.\u00a0<\/p>\n

Read more As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch<\/a><\/p>\n

\u201cWelcome OUSD. Player 2 has entered the game,\u201d wrote Tether CEO Paolo Ardoino.<\/p>\n

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Open USD is the latest in a flood of new stablecoins after July 2025, when President Donald Trump signed into law the Genius Act, which establishes a regulatory framework for the tokens. Several corporations have also begun to experiment with stablecoins. In November, payments provider Klarna launched KlarnaUSD. Retail giants Amazon and Walmart have also expressed interest in issuing their own stablecoins.<\/p>\n

Meanwhile, consortiums in crypto between large corporate players aren\u2019t novel. In November 2024, Singapore-based Paxos launched USDG, a stablecoin backed by the Global Dollar Network, a pool of major crypto, fintech, and traditional finance firms. Participants include Mastercard, Robinhood, and Kraken.<\/p>\n

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There have also been attempts to create shared blockchain networks. The fintech Stripe worked with the venture firm Paradigm, along with a number of design partners, to launch Tempo, a blockchain created to support stablecoin payments.<\/p>\n

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And major banks have also joined forces to launch a shared deposit network. Earlier this month, JPMorgan Chase, Bank of America, Citigroup, and others unveiled The Clearing House, a payments system that lets bank deposits move as digital tokens over blockchain-style rails.<\/p>\n

Read more KKR cofounder once impressed Roy Disney with a habit most analysts skipped\u2014it turned a 1-hour meeting into all-day mentorship: \u2018I thought I\u2019d died and gone to heaven\u2019<\/a><\/p>\n

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Update, June 30, 2026: Added in comment from Tether CEO Paolo Ardoino.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Other big-name participants include BlackRock, American Express, and Google.<\/p>\n","protected":false},"author":1,"featured_media":2592,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[368],"tags":[],"class_list":["post-2593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stablecoins"],"yoast_head":"\nStripe, Visa and over 140 other businesses to launch stablecoin to rival Tether and Circle - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=2593\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stripe, Visa and over 140 other businesses to launch stablecoin to rival Tether and Circle - 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