Ethereum Welcomes Open USD Stablecoin Launch Backed by BlackRock, Visa and 140+ Firms

TL;DR:

• Institutional alliance: The project brings together more than 140 companies from the financial and technology sectors, including Visa, Mastercard, Stripe, BlackRock, BNY, and Coinbase.
• Operating model: Open USD enables fee-free, unlimited volume issuance and redemption for participating companies.
• Deployment network: The stablecoin will debut directly on the Ethereum network, an infrastructure that holds the largest share of tokenized real-world assets.

The Ethereum Institutional initiative confirmed the launch of Open USD, a new stablecoin targeted at the institutional sector and backed by a global consortium of more than 140 companies. The digital asset was designed to operate natively on the Ethereum blockchain from its very first day of activity.

Project development is being led by Open Standard, an independent entity created to manage the token under a decentralized governance model. Unlike traditional models, this structure prevents the concentration of revenue within a single issuer.

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