Coinbase, Mastercard, Visa and Stripe back the $1 billion launch, with Chainlink supplying oracle infrastructure.
A consortium of major payments and crypto companies has launched a new stablecoin called Open USD. Coinbase, Mastercard, Visa and Stripe are named as backers of the project, which debuted with roughly $1 billion in scale, according to reports on the launch.
Chainlink will supply the data infrastructure behind Open USD, according to crypto.news. Oracle networks like Chainlink typically provide price feeds and other verified data that stablecoins and decentralized applications rely on to function reliably. Their role matters because stablecoins depend on trusted data for things like proof of reserves, cross-chain transfers and accurate pricing across exchanges.
The involvement of Coinbase, Mastercard, Visa and Stripe signals a notable convergence between traditional payments infrastructure and crypto-native stablecoin issuance. Visa and Mastercard operate global card networks that move trillions of dollars annually. Stripe has expanded aggressively into stablecoin and crypto payment rails in recent years. Coinbase remains one of the largest regulated crypto exchanges in the United States, with an established track record in stablecoin issuance through its partnership on USDC.
Stablecoins have grown into one of the largest segments of the digital asset market, used widely for trading, remittances and as a dollar proxy in regions with volatile local currencies. Dominant players like Tether's USDT and Circle's USDC have controlled most of the market, but new entrants continue to emerge as payment companies seek direct involvement in token issuance rather than relying solely on third parties.
The entry of Open USD, backed by four major financial and payments brands simultaneously, represents a significant test of whether incumbents can carve out share in a market long dominated by crypto-native issuers. The $1 billion initial figure cited by CoinTurk News EN suggests the project launched with substantial liquidity already committed, rather than starting from zero.
AMBCrypto described the move as Open USD joining what it called the stablecoin race, framing the launch within the broader competitive landscape among dollar-pegged tokens. That framing underscores how crowded the space has become, with multiple stablecoins now competing for adoption across exchanges, payment processors and decentralized finance protocols.
Chainlink's selection as the data provider for Open USD also reflects its established position as infrastructure for institutional-grade crypto products. The oracle network has previously partnered with traditional financial institutions exploring tokenization and on-chain settlement, positioning it as a bridge between legacy finance and blockchain-based systems.
Details on Open USD's underlying blockchain, reserve composition and regulatory structure were not specified in the available reporting. Market participants will likely watch for further disclosures on collateral backing and jurisdictional oversight as adoption proceeds.
Market Impact
The launch of Open USD could intensify competition in the stablecoin sector, where Tether and Circle have historically held the largest share of circulating supply. Backing from Visa, Mastercard, Coinbase and Stripe gives the new token access to established payment rails and merchant networks that smaller stablecoin issuers typically lack.
Chainlink's role as data provider may also reinforce its position within institutional crypto infrastructure, as more payment and financial firms look to integrate blockchain-based settlement. Broader market effects will depend on how quickly Open USD gains adoption among merchants, exchanges and consumers relative to existing stablecoins.
Open USD's launch marks a notable moment where legacy payment networks and crypto infrastructure providers have aligned on a single stablecoin project, with further details on its structure expected as adoption unfolds.
Frequently Asked Questions
What is Open USD?
Open USD is a newly launched stablecoin backed by Coinbase, Mastercard, Visa and Stripe, reported to have launched with about $1 billion in scale.
What role does Chainlink play in Open USD?
Chainlink provides the data infrastructure, such as price feeds and verified data, that underpins Open USD's operation, according to reporting on the launch.
How does Open USD differ from existing stablecoins like USDT or USDC?
Open USD is backed jointly by major payments companies rather than a single issuer, though specific details on its reserves and regulatory structure were not disclosed in current reports.
Why does backing from Visa, Mastercard and Stripe matter?
These companies operate large global payment networks, which could give Open USD broader distribution and merchant access compared with newer, independently issued stablecoins.
