Stablecoin adoption is moving deeper into mainstream finance, with Stripe, Visa (NYSE:V), Bank of New York Mellon Corp (NASDAQ:BNY) BlackRock (NYSE:BLK), Coinbase Global (NASDAQ:COIN) and more than 100 other firms backing a new dollar-linked token.
What Happened
The group will launch Open Standard, a new stablecoin venture designed to broaden access to digital money-movement infrastructure.
Open Standard will issue its own U.S. dollar-backed stablecoin, called Open USD, which partners plan to integrate into their platforms once it launches later this year.
Other backers include Klarna, Chime Financial, Alphabet (NASDAQ:GOOGL) and several fintech, crypto, banking and payment companies.
