Woofun AI reports that Open Standard launched Open USD (OUSD) on the first day of the second half of 2026, backed by an alliance of over 140 entities including Visa, Stripe, Mastercard, BlackRock, Standard Chartered, Google, and Coinbase. This new stablecoin diverges from traditional models by returning most reserve income to participants who adopt and distribute the currency rather than retaining it with the issuer, while eliminating fees for minting or redeeming. The structural shift aims to redistribute revenue from issuers directly to channel parties through a collaborative management framework governed by an independent team.

Leadership roles within Open Standard highlight Stripe's significant influence, with Zach Abrams, CEO of Bridge, and Ben O'Neill, Head of Capital Flow at Bridge, steering the initiative. Stripe has designated Open USD as the default stablecoin option for businesses operating on its platform, cementing its operational priority. The partner roster extends to major exchanges and platforms including Coinbase, Bybit, OKX, Crypto.com, Gemini, Bitso, and Dunamu, the parent company of Upbit.

Notably, Binance and PayPal are absent from the list of founding supporters despite their market prominence.

The market reaction was immediate and severe for incumbent players, with Circle's stock price dropping over 17% to $62 following the announcement. Industry observers, including ARK Invest's Lorenzo Valente and various crypto opinion leaders, argue that while OUSD may accelerate adoption in corporate payments and traditional finance, it faces steep hurdles in displacing USDT or USDC. The entrenched liquidity and network effects of existing stablecoins create a high barrier to entry that prevents immediate market share erosion for competitors.

This launch underscores a strategic pivot where traditional finance actively participates in stablecoin infrastructure construction rather than remaining peripheral. The absence of key players like Binance suggests a fragmented approach to the next generation of digital currency rails. While the revenue-sharing model offers a compelling value proposition for distributors, the dominance of established tokens remains intact in the short term.