Payments giants back Open Standard with $1B for new stablecoin
What's the deal? Open StandardDealroom has a profile for this one. Try Dealroom → has raised more than $1 billion to launch Open USDDealroom has a profile for this one. Try Dealroom →, a stablecoin aimed at banking, cross-border payments, settlements, and institutional trading. Coinbase, Mastercard, Shopify, Stripe, and Visa joined as founding partners.
What's the money for? The investment provides startup liquidity for Open USD, positioning the token for use across regulated financial and commercial channels rather than retail speculation.
The hire: Zach Abrams was appointed chief executive officer to lead the company.
Why now? Payments and card networks are moving to embed stablecoins into mainstream infrastructure, and pooling five of the industry's largest players behind a single token signals a coordinated push into on-chain settlement.
The signal: With Coinbase, Mastercard, Shopify, Stripe, and Visa aligned on one standard, the story points to incumbents seeking to shape stablecoin rails themselves rather than cede ground to independent issuers.
Read more: bbx.com
Image credit: pve
