Opposition by U.S. banks to the CLARITY bill could weaken their own position, a16z crypto policy head and general counsel Miles Jennings said. He argued that the GENIUS Act is already in force and has accelerated on-chain dollar movement, with other real-world assets likely to follow regardless of CLARITY. If CLARITY fails, he said, stablecoin deposit yield structures banks oppose would remain. Banking groups have urged stricter bans on interest-like rewards for holding stablecoins.

OpenStandard has unveiled OpenUSD, a stablecoin that shares reserve income with distribution and payment partners rather than paying returns directly to holders. The project is positioned as a shared infrastructure with more than 140 named partners, including Visa, Stripe and Coinbase. Key disclosures such as supply, redemption history and reserve details have not been released, with launch expected in late 2026. The model comes as U.S. policymakers debate restricting yield on payment stablecoin balances.