Summary
- Major companies including Visa, Stripe, Mastercard, BlackRock and Coinbase are reportedly planning to launch a new stablecoin, OUSD.
- The companies are considering a structure to build stablecoin-based payments and settlement infrastructure around OUSD and share revenue among participating firms.
- If realized, the plan could become a major project marking a broader entry by traditional finance and payments companies into the stablecoin market long led by Tether (USDT) and Circle (USDC).
Visa, Stripe, Mastercard, BlackRock and Coinbase are among major financial and crypto firms reportedly moving to launch a new stablecoin, according to a report.
Crypto-focused channel Zoomer wrote on X on June 30, citing Bloomberg, that dozens of financial firms including Visa, Stripe, Mastercard, BlackRock and Coinbase are preparing to roll out a new stablecoin called OUSD.
The companies are considering a structure that would build payments and settlement infrastructure around OUSD and split related revenue among participating firms, Zoomer said.
Stablecoins are cryptocurrencies designed to track the value of fiat currencies such as the US dollar. They are used for payments, remittances, exchange settlement and on-chain financial services.
If the plan materializes, it could become a large stablecoin project involving card networks, fintech companies, asset managers and crypto exchanges. It would also mark a broader move by traditional financial institutions and payments companies into a market long dominated by Tether's USDT and Circle's USDC.
Still, the post cited by Zoomer did not confirm details such as OUSD's issuer, its reserve structure, a launch timeline or whether it has received regulatory approval.
