140 Firms Including Coinbase and Ripple Launch the New Open USD Stablecoin

Over 140 companies, including Visa, Mastercard, Coinbase, and Stripe, have launched a new stablecoin called Open USD. Managed by the independent company Open Standard, this digital asset is specifically designed for businesses to facilitate cross-border money transfers. The primary goal of Open USD is to eliminate the high fees typically associated with existing tokens, providing a more efficient global payment alternative for the participating consortium members and the broader business community starting this Tuesday.