Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD | PYMNTS. com
ByPYMNTS|June 30, 2026|Several of the world’s payments and tech giants have agreed to use the money movement stablecoin Open USD. That coin is set to go live later this year, according to anannouncementTuesday. . .
ByPYMNTS|June 30, 2026|Several of the world’s payments and tech giants have agreed to use the money movement stablecoin Open USD. That coin is set to go live later this year, according to anannouncementTuesday (June 30) fromOpen Standard, the company behind Open USD. It noted in a blog post that the launch is happening as stablecoin transaction volume is approaching that of the ACH network. “At the same time, businesses still face significant hurdles: fees to mint and redeem most stablecoins are prohibitively expensive at larger volumes; companies aren’t always able to benefit from the revenues earned on the underlying reserves; and developers have little recourse if the roadmaps of third-party issuers do not meet their needs,” the post added. Users can “mint and redeem Open USD at no cost, and with no artificial limits on volume,” the company said. Partners will collect all of the earnings from Open USD’s reserves, minus a “small management fee” to cover the coin’s operational costs. Among the several dozen companies who have signed on to use Open USD areVisa,Google,Mastercard,Coinbase,American Express,DoorDashandPlasma, which is providing theblockchain infrastructurethat allows for instant money movement. “Existing stablecoins have great strengths, but to use them at scale, businesses need something that’s open, low-cost, high-throughput, broadly accessible, and aligned to their interests,” saidZach Abrams, founding CEO of Open Standard. “We’re thrilled to bring together over 140 businesses to launch Open USD. It’s a stablecoin built for the internet economy, designed by the businesses growing it. ”In other stablecoin news, PYMNTS wrote earlier this week about theethereumblockchain’s place in the digital asset space after it fell 25% during June amid acorporate restructuring. “For payment providers moving money internationally, transaction cost matters more thanblockchain loyalty,” that report said. “Treasury departments prioritize settlement certainty, liquidity and regulatory compliance over developer ecosystems, while banks evaluating tokenized deposits are asking which network best supports operational resilience rather than which one pioneered decentralized finance. ”Ethereum, the report continued, is still highly valuable as a programmable settlement environment that can support sophisticated financial applications. But if institutional adoption centers aroundmoving dollars efficientlyrather than creating decentralized applications, competitive advantages begin shifting toward “throughput, interoperability, operational simplicity and regulatory integration. ”As PYMNTS CEOKaren Websterwrote earlier this, thelong-term winnercould be tokenized deposits that uphold the regulatory structure and economics of commercial banking while offering the programmability and around-the-clock settlement capabilities that come with blockchain-based money.