Open USD Stablecoin Launches on Ethereum on First Day
Ethereum Institutional, a non-profit organization in the Ethereum ecosystem, announced that the stablecoin Open USD will be deployed on the Ethereum network on its launch day.
The project is supported by over 140 institutions, including Visa, Mastercard, Stripe, BlackRock, and BNY Mellon, with all reserve earnings directed to partners that drive its growth.
This event reinforces Ethereum's position as a settlement layer for institutional stablecoins, with related payment and custody ecosystem funds shifting towards a shared revenue model.
Source: Public Information
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The Open Standard, led by former Bridge co-founder Zach Abrams, has launched Open USD in collaboration with over 140 institutions including Visa, Mastercard, Stripe, and BlackRock. The core difference lies in zero minting redemption fees and distributing reserve earnings to adopters rather than a single issuer.
In terms of capital pathways, payment networks, banks, and asset management giants jointly govern an independent entity, shifting the stablecoin from an issuer profit center to shared infrastructure. Ethereum, with its neutral settlement properties, becomes one of the initial chains, forming a multi-chain layout alongside Solana and Base.
Similar cases can be seen in the regulatory shift following the early failure of the Libra/Diem alliance, as well as the monopolistic issuance models of USDC and USDT; currently, stablecoins are in a reconstruction phase from single issuers to institutional alliance shared economies.
Essentially, this represents a transfer of pricing power: reserve earnings are redistributed from issuers to the adopting ecosystem, with the mechanism of collective governance reducing risks of control by a single entity and incentivizing large-scale adoption.
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- Shared earnings enable scalable adoption
- Neutral settlement layers attract institutional alliances
- Stablecoin competition shifts towards governance structures.