Over 140 Firms Launch Open USD Stablecoin with No Fees

A new stablecoin called Open USD has been launched by over 140 companies, including payment networks Visa and Mastercard, crypto exchange Coinbase, and financial services firm Blackrock. The coin is designed for businesses that move large volumes of dollars and need a cheaper way to mint and redeem stablecoins at scale.

No fees or volume limits will be charged for minting or redeeming Open USD, allowing companies to manage their stablecoin reserves without incurring additional costs.

The partner list for Open USD spans traditional finance, crypto firms, and payment networks. Blackrock's global head of market development, Samara Cohen, pointed out that the firm expects the stablecoin market to reach $1.5 trillion by 2030.