140 Companies Join Forces to Launch Neutral Stablecoin Open USD on Solana

More than 140 companies, including giants such as Visa and BlackRock, have partnered to launch a new stablecoin called Open USD (OUSD) on the Solana blockchain.

The partners are throwing their weight behind the initiative, with payment giant Stripe already planning to make Open USD its default stablecoin. According to Will Gaybrick, President of Technology and Business at Stripe, 'Businesses need a stablecoin designed to work at a global, industrial scale.'

Open USD will be owned and operated by the partner through an independent company called Open Standard. The new stablecoin is expected to launch natively on Solana from day one later in 2026.

The founding CEO of Open Standard, Zach Abrams, framed the initiative as a response to pain points that existing stablecoins create at enterprise scale. 'Existing stablecoins have great strengths, but to use them at scale, businesses need something that's open, low-cost, high-throughput, broadly accessible, and aligned to their interests,' he said.

Open USD comes as the market for stablecoins continues to grow, with a total market cap of $298 billion. According to BNY’s Chief Product and Innovation Officer, Carolyn Weinberg, 'a stablecoin such as Open USD with neutral governance and shared economics has potential to unlock the next phase of digital assets growth.'