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Blackrock-Backed Stablecoin Launches on Ethereum Amid Institutional Momentum

Guavy AI Editorial Team
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A consortium of over 140 organizations, including BlackRock, Visa, Mastercard, Stripe, and BNY Mellon, has confirmed plans to launch a new Ethereum-based stablecoin called Open USD (OUSD).

The project is governed by the independent consortium Open Standard, which distributes reserve earnings across ecosystem partners rather than concentrating them with one issuer.

Fundstrat co-founder Tom Lee described the launch as another sign of Ethereum's growing role in global finance.

OUSD also allows businesses to mint and redeem without fees or volume caps.

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