Stablecoins have become the major selling point of crypto over the past year or two, and now a partnership of tech giants, Wall Street financial institutions, and crypto startups are looking to build out the stablecoin to end all other stablecoins. Known as Open USD, this new stablecoin brings together more than 140 prominent companies in an effort to built an open standard for a dollar-pegged crypto token. Some of the most prominent names who have joined this initiative include Visa, Mastercard, BlackRock, BNY, Google, Samsung, DoorDash, and Coinbase. “What sets Open USD apart is that it’s genuinely open: no single company controls it, and the partners building on it have a seat at the table,” Andy Fang, co-founder of DoorDash, said in a Open USD statement. “That’s the right foundation for moving money for everyone.” Open USD is expected to be available later this year, and is said to be governed by an independent company, known as Open Standard, which will have a board made up of company partners. U.S. dollar reserves for the stablecoin will be held by Open Standard and provided to partners after a management fee is taken out. That management fee will go towards the funding of Open Standard’s operational costs. Additionally, there are reportedly no fees associated with the mint and redemption processes for the stablecoin.