A consortium of more than 140 companies, including Visa, Mastercard, Stripe, and Coinbase, has introduced Open USD (OUSD), a stablecoin designed around a yield-sharing model. Unlike incumbent issuers that retain reserve income, OUSD aims to redistribute yield among participants, directly targeting the economics that have made Circle's USDC and other dollar-pegged tokens profitable. The launch positions the group to compete within a stablecoin market estimated at roughly $300 billion. The involvement of major payment networks signals growing institutional interest in integrating stablecoins into mainstream financial infrastructure. By altering how reserve revenue is distributed, the project could pressure existing issuers to reconsider their fee and yield structures. The broad coalition of backers suggests an effort to establish OUSD as a widely adopted settlement asset, though its long-term traction will depend on regulatory clarity and merchant and consumer uptake.
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