Open USD is led by Zach Abrams, the co-founder of stablecoin infrastructure firm Bridge, which Stripe acquired for $1.1 billion
Open Standard launched the Open USD stablecoin on June 30, 2026, with more than 140 backers, including Visa, Mastercard, Google, BlackRock, Stripe, Coinbase, and IBM
Incumbents Tether and Circle, which control roughly $145 billion and $73 billion in market capitalization respectively, are not participating in the Open USD consortium
Open USD is scheduled to launch later in 2026 and will be managed by an independent organization with shared governance among partner companies