Coinbase is joining more than 140 companies to launch a stablecoin dubbed Open USD (OUSD) on Solana. The partners include Visa, Stripe, Mastercard, American Express, and a long list of giants spanning payments, global banks, and crypto platforms, such as Coinbase, Ripple, Bybit, and Solana.
Open USD will be owned and operated by the partner through an independent company, Open Standard, according to the announcement on Tuesday. The stablecoin is expected to launch natively on Solana from day one later in 2026. Open Standard’s founding CEO, Zach Abrams, framed the initiative as a response to pain points that existing stablecoins create at enterprise scale.
Open USD set for launch later this year
Abrams said businesses currently face fees for minting and redeeming tokens, have limited access to reserve yields, and depend on roadmaps set by a single issuer. “Existing stablecoins have great strengths, but to use them at scale, businesses need something open, low-cost, high-throughput, broadly accessible, and aligned to their interests,” said the Open Standard CEO.
Per the announcement, businesses can mint and redeem Open USD at no cost, with no artificial volume limits. All earnings from Open USD’s reserves will be shared by partners. The partners are throwing heavy support for Open USD, with payment giant Stripe already planning to make Open USD its default stablecoin.
“Businesses need a stablecoin designed to work at a global, industrial scale. And not at the scale of the 2026 economy, but of the 2040 economy, with flurries of activity we can only begin to imagine; that’s why Open USD will be the default stablecoin for businesses running on Stripe,” said Will Gaybrick, President of Technology and Business at Stripe.
Open USD comes as interest and total market cap of stablecoins continue to swell, currently at $298 billion, according to data from Messari. BNY’s Chief Product and Innovation Officer, Carolyn Weinberg, anticipates that stablecoins alone may grow to $1.5 trillion by 2030, adding that a stablecoin such as Open USD with neutral governance and shared economics “has potential to unlock the next phase of digital assets growth.”
