#open usd

[rwatimes]

Why CFOs should pay attention to Open USD—the new stablecoin backed by more than 140 companies | Fortune

A new stablecoin consortium aims to turn idle settlement cash into yield for banks and fintechs.

➤ A new consortium of over 140 financial institutions, including major players like Visa, Mastercard, and BlackRock, is launching Open USD, a stablecoin aimed at generating yield from idle settlement cash for banks and fintechs. ➤ Unlike existing stablecoins, Open USD will be governed by a board of its partners, allowing for collective decision-making on reserves and redemption rules, and sharing reserve earnings after a management fee. ➤ The initiative tests the viability of shared infrastructure for tokenized dollars and could signal a shift towards consortium-owned payment networks, impacting mainstream treasury operations and cross-border settlements.

[rwatimes]

Crypto card deposits surpass $10B milestone, up 82% YTD

➤ Crypto card deposits have surpassed $10 billion, showing significant year-to-date and year-over-year growth. ➤ This growth is primarily driven by the adoption of stablecoins, which offer benefits like faster settlement and lower fees for cross-border transactions. ➤ Major payment networks like Visa and Mastercard are integrating with these crypto card platforms, indicating increasing mainstream acceptance and utility.

[rwatimes]

Ripple News and XRP Price Update Today: July 1

A closer look at the latest and most important developments surrounding Ripple and XRP.

➤ Ripple is joining Open USD as a day-one integration partner for its new stablecoin, OUSD, aimed at global payments and backed by major financial institutions. ➤ Despite recent regulatory approval in Japan for its own stablecoin (RULSD) and a $25 million commitment to small businesses, XRP's market cap has declined, and its price struggles to stay above $1. ➤ Institutional interest in XRP remains strong with significant ETF inflows, though the broader market sees outflows from BTC and ETH ETFs, while XRP's price outlook is mixed with a buy signal but reduced whale exposure.

[rwatimes]

Ripple joins Open USD: what it means for RLUSD and XRP

Ripple Open USD news puts Ripple inside a stablecoin backed by Visa, Mastercard and BlackRock. It skips XRPL, so does it help XRP?

➤ Ripple has joined Open USD (OUSD), a new dollar-backed stablecoin consortium featuring major financial players like Visa, Mastercard, and BlackRock, but OUSD will not launch on the XRP Ledger. ➤ This move is seen as a strategic hedge by Ripple, allowing it to benefit from stablecoin market growth regardless of whether its own stablecoin, RLUSD, or OUSD prevails, while also challenging the business models of existing stablecoin giants like Tether and Circle. ➤ The direct impact on XRP's price is uncertain, as OUSD's launch on other blockchains and competition with RLUSD present challenges, with potential benefits hinging on indirect market-making activity and future XRP Ledger integration.

[rwatimes]

Visa, Mastercard and 140 companies launch Open USD

➤ A large consortium of over 140 companies, including Visa, Mastercard, and Stripe, has launched a new stablecoin called Open USD (OUSD) to challenge the market dominance of Circle and Tether. ➤ Open USD differentiates itself through a decentralized governance model and a reserve structure where interest earned is distributed to partners, aiming for lower costs and wider accessibility for businesses. ➤ The launch, occurring within a new regulatory framework in the US, has already impacted Circle's market share, though analysts caution that displacing incumbents will be challenging.

[rwatimes]

What is OpenUSD (OUSD)? Visa, BlackRock, Coinbase, and 140+ Firms Fuel Buzz Around New Stablecoin

Backed by over 140 companies, Open USD promises zero-fee minting, collaborative governance, and reserve yield sharing ahead of its launch.

➤ A new consortium-backed stablecoin, Open USD (OUSD), is launching with support from over 140 companies including Visa, BlackRock, and Coinbase. ➤ OUSD aims to differentiate itself through zero-fee minting, shared reserve yield, and collaborative governance, potentially challenging existing stablecoins like USDC. ➤ The announcement has generated significant market buzz and appears to be impacting the sentiment around Circle, the issuer of USDC.

[rwatimes]

Circle stock falls 17.5% after Russell removals and Open USD launch

Circle’s CRCL fell 17.5% to $62.63 after Russell Growth removals and Open USD launch fueled fresh USDC competition fears.

➤ Circle's stock (CRCL) dropped 17.5% following its removal from key Russell Growth indexes, impacting passive ownership and liquidity. ➤ The launch of Open USD, a new stablecoin backed by a consortium of companies including Visa and Mastercard, introduces significant competition to Circle's USDC. ➤ Circle's CEO defended USDC's market position, while Tether's CEO welcomed the new competitor, highlighting the evolving stablecoin landscape.

[rwatimes]

Visa, Mastercard join 140 businesses to launch Open USD stablecoin

Visa, Mastercard and Coinbase are backing Open Standard as the consortium prepares to launch Open USD for business stablecoin use.

➤ Visa, Mastercard, and Coinbase are backing Open Standard, a new consortium launching Open USD, a U.S. dollar-pegged stablecoin for businesses. ➤ The initiative aims to simplify stablecoin use for businesses by offering a low-cost, high-volume network with fee-free minting and redemption. ➤ This launch signifies growing institutional interest and regulatory attention towards stablecoins for broader payment and settlement applications beyond crypto trading.