Visa, Mastercard, and Coinbase Commit $1B to New Open USD Stablecoin

Key Facts

1Visa, Mastercard, Stripe, and Coinbase have committed $1 billion to support a new stablecoin called Open USD.

2The new stablecoin uses a profit-sharing model with partners rather than hoarding them, challenging incumbents like Tether and USDC.

Visa, Mastercard, Stripe, and Coinbase have committed $1 billion to support a new stablecoin called Open USD. According to 247wallst.com, the consortium pledged this liquidity to back the token following its launch on September 30, 2026, ensuring users can convert the asset into US dollars. The new stablecoin utilizes a profit-sharing model with its partners rather than hoarding reserves, representing a direct challenge to established incumbents such as Tether and USDC.

COIN closed at $183 on October 2, 2026, while MA closed at $552.26 and V closed at $360.66 on the same date. Open Standard reported that the partner network for the new currency has grown to over 200 companies, with trading liquidity on the Tempo blockchain exceeding $400 million on its first day. In the broader payments sector, peer firm AXP closed at $302.78 on October 2, 2026.