Open Standard unveils new structure; Coinbase, Mastercard, Stripe and Visa join as founding partners
- —Coinbase, Mastercard, Shopify, Stripe and Visa are initial founding partners of Open Standard
- —Partners will provide more than $1 billion in near-term launch liquidity for OUSD
- —Zach Abrams leaves Stripe to lead Open Standard as full-time CEO
- —OUSD targets banks, cross-border payments, settlement and institutional trading
Why it matters: The entry of major payment firms into stablecoins intensifies competition with USDT and USDC and could accelerate institutional adoption.
Source: PANews