Open USD, a new stablecoin backed by more than 140 global partners, represents a notable development in the evolution of digital payments. Visa Inc. V, Mastercard Incorporated MA, American Express Company AXP and Coinbase Global, Inc. COIN are among the founding participants, alongside companies such as Stripe, BlackRock, Google and Standard Chartered. Developed by Open Standard, Open USD is expected to go live later this year. It aims to solve several long-standing challenges surrounding enterprise stablecoin adoption by offering free minting and redemption, no artificial volume limits and a collaborative governance model that aligns the interests of participating businesses.

Why the Payments Industry Is Paying Attention

Stablecoins are rapidly evolving from crypto trading tools into mainstream financial infrastructure. Businesses are increasingly exploring them for cross-border payments, treasury operations, merchant settlements and business-to-business transactions, where speed, lower costs and round-the-clock settlement offer clear advantages over traditional payment systems.

The growth outlook is equally compelling. According to Bloomberg Intelligence, global stablecoin payment flows could reach $56.6 trillion by 2030, reflecting rising institutional adoption and the expanding use of tokenized money across industries. Meanwhile, FXC Intelligence estimates the total addressable market for wholesale and retail cross-border payments will reach $320.2 trillion by 2032, underscoring the enormous opportunity for next-generation payment infrastructure.

The launch of Open USD also comes at a favorable time for the stablecoin industry. In July 2025, U.S. President Donald Trump signed the GENIUS (Guiding and Establishing National Innovation for U.S. Stablecoins) Act, which established the first comprehensive federal framework for payment stablecoins in the United States. By providing clearer rules around reserves, issuer oversight and consumer protections, the legislation has encouraged greater institutional participation and accelerated efforts by banks, payment networks and fintech companies to integrate stablecoins into mainstream financial services.

Unlike many existing stablecoins, Open USD has been designed with enterprise users in mind. Companies can mint and redeem tokens without fees or volume restrictions, while participating partners receive the earnings generated from the underlying reserves after a small management fee. Its partner-led governance structure, managed by Open Standard, also sets it apart from issuer-controlled models by giving participants a greater voice in shaping the network's future. The combination of shared economics and open governance could encourage broader adoption among financial institutions, payment providers and global businesses.

What It Means for Payment Leaders

Reflecting broader industry trends, Visa and Mastercard’s participation in Open USD complements years of investment in blockchain technology, tokenization and stablecoin settlement. Rather than replacing their card networks, stablecoins represent an additional payment rail that can support new transaction flows, particularly in cross-border and commercial payments. As enterprise adoption accelerates, both companies could benefit from higher transaction volumes and increased demand for value-added services such as digital payment infrastructure, tokenization, settlement solutions and fraud management. Their participation also reinforces a broader strategy of ensuring their networks remain relevant regardless of how consumers and businesses choose to move money.

American Express is also positioning itself for the next phase of payments innovation. Joining Open USD gives the company an opportunity to explore stablecoin-based solutions for commercial payments, treasury management and global money movement. Meanwhile, Coinbase stands to benefit from greater enterprise adoption of stablecoins through increased demand for custody, wallets, blockchain infrastructure and on-chain payment services, further strengthening its role as a bridge between traditional finance and blockchain-based payments.

V currently has a Zacks Rank #2 (Buy), while MA, AXP and COIN carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Bigger Picture

Open USD enters a competitive market dominated by established stablecoins, but its extensive coalition of banks, payment companies, fintech firms, technology leaders and crypto platforms suggests the industry is moving toward a more collaborative approach to digital money. Rather than challenging traditional payment networks, enterprise stablecoins are increasingly being viewed as complementary infrastructure that can improve speed, efficiency and interoperability across the global financial system.

If Open USD delivers on its promise of low-cost settlement, shared economics and partner-led governance, it could accelerate enterprise adoption of stablecoins and reshape how businesses move money across borders. The launch is another reminder that the future of payments is unlikely to be defined by cards or blockchain alone. Instead, the next generation of global commerce will likely combine the scale and trust of traditional payment networks with the efficiency and programmability of blockchain technology.

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