Open USD, developed by Open Standard and supported by more than 140 companies including Visa, Mastercard, Stripe, BlackRock and BNY, is expected to launch later in 2026 on Ethereum from day one, with participating businesses set to share reserve earnings and help shape its development.
Ethereum Institutional announced the network expansion in a July 30 post, saying the income generated by Open USD’s reserves would flow to the partners driving its adoption. It presented Ethereum as neutral infrastructure for an asset intended to serve companies across payments, banking, commerce and digital finance.
Open USD brings its shared stablecoin model to Ethereum
Launching on Ethereum would place Open USD within a widely used ecosystem for stablecoins, tokenized assets and decentralized financial applications.
Ethereum Institutional said it was working with Open Standard on the deployment but did not disclose the token’s contract, technical structure or exact release date.
Visa is separately preparing institutional access through its new Visa Stablecoin Platform, which will begin with Open USD. The service is designed to help selected financial institutions, fintech companies and payment providers mint, redeem, hold and transfer the token through a Visa-managed environment.
Open Standard sets out a partner-led model
Open Standard introduced Open USD on June 30 as infrastructure for global money movement, promising businesses fee-free minting and redemption without artificial volume limits.
Partners would receive reserve income after a small management charge covering operational expenses. The stablecoin will be managed by an independent company overseen by a board composed of participating partners, rather than being directed solely by one issuer.
What Open USD could offer
The model is intended to give payment companies, banks and large businesses more control over stablecoin economics while supporting treasury management, settlement and cross-border transfers.
Despite its heavyweight backing and partner-led model, Open USD’s prospects will hinge on details that remain undisclosed, including the exact composition of its reserves, the institutions holding them, the size of its management fee, its ownership and voting structure, its attestation framework and a firm launch date.
Those disclosures, alongside actual integrations by participating companies, will determine whether broad corporate support translates into deep liquidity, sustained adoption and meaningful transaction volume.
