Visa, Stripe, and 140 partners launch Open USD to take Circle's stablecoin revenue
Open Standard, backed by Visa, Mastercard, Stripe, BlackRock, and 140-plus partners, launched Open USD on June 30 with zero minting fees and a model that returns nearly all reserve income to distributing partners. Circle's stock fell 16% on the news, and analysts say it poses the most direct threat yet to USDC's core business model.