Open Standard unveils Open USD, a global stablecoin backed by Visa, Mastercard and Coinbase

A consortium led by Visa, Mastercard and Coinbase launched the Open Standard network and a USD-pegged stablecoin called Open USD, aiming to scale stablecoins globally with open governance; the network has over 140 partners, and Open USD can be minted or redeemed at no cost with no volume limits, while earnings from the token’s reserves are shared among partners minus a management fee, with a launch expected later this year.