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Visa, Mastercard, BlackRock take part as institutional stablecoin OUSD set to launch on Ethereum

A new stablecoin, OpenUSD (OUSD), aimed at institutional investors and companies is preparing to launch on the Ethereum network. The project is backed by a consortium of more than 140 firms, including Visa, Mastercard, Stripe, BlackRock and BNY. Details such as the launch timetable, issuance structure, reserve assets, redemption method and compliance system have not been disclosed. Markets are watching how much institutional capital it can attract.

Crypto

Visa develops enterprise stablecoin management platform to support OUSD

Visa is launching a platform designed to help banks and fintech companies handle stablecoins more easily, Fortune reported on Wednesday. Fortune said Visa will roll out the platform alongside the OpenStandard (OUSD) stablecoin involving more than 140 companies including Visa, Stripe, Mastercard, BlackRock and Coinbase. A launch date was not disclosed. OUSD is set for release in the second half of this year and allows issuance and redemption without fees or volume limits.

Crypto

Cardano Foundation says OpenUSD integration possible after Visa, Ripple join

The Cardano Foundation publicly raised the possibility of expanding links with the OpenUSD (OUSD) ecosystem. It said partner Brale joined OpenUSD as a launch partner and could help broaden connections with Cardano. The foundation said it is also considering other integration options and will disclose details if discussions progress. The comments came after criticism that Cardano was absent from a public list of organisations linked to OpenUSD.