Visa and Mastercard Join Forces to Launch Global Stablecoin Initiative

Visa and Mastercard, together with Coinbase, have launched a stablecoin called Open USD under the Open Standard network. The alliance includes more than 140 technology and financial companies. The group said the stablecoin targets mass corporate adoption of digital assets.

The launch follows a similar stablecoin initiative on the Base network that drew BlackRock and Visa, and the new stablecoin is separate from that earlier effort, the group said. Mastercard carries an Alpha Score of 65 out of 100, labeled Moderate, in AlphaScala's Financials sector ranking.

The Open Standard network aims to drive mass corporate adoption of digital assets. The stablecoin is now live. The group did not disclose a timeline for broader availability.