Google Backs 140+ Partner Stablecoin Launch, Faces UK Fee Rule and Upgrades AI Tool
GOOG•Google joined 140+ firms including Mastercard and Coinbase to launch Open USD, a fee-free stablecoin governed by the Open Standard board sharing reserve earnings. UK regulators may force Google to allow in-app purchase steering, cutting Play Store fees, and Google launched Nano Banana 2 Lite, a faster, lower-cost AI generator.
1. Open USD Consortium Launch
Google has joined over 140 firms—including Mastercard, Coinbase, Stripe and Visa—in the launch of Open USD, a new stablecoin governed by the Open Standard board. Partners can mint and redeem the stablecoin without fees or volume caps and receive reserve earnings minus a management fee.
2. UK CMA Steering Proposal
The UK Competition and Markets Authority is considering rules that would require Google to allow developers to direct users to external purchase channels within Android apps. This change could reduce Play Store commission rates from up to 30% to lower levels, potentially boosting developer and consumer savings and affecting Google's app marketplace revenue.
3. Nano Banana 2 Lite Release
Google released Nano Banana 2 Lite, its latest AI image and video generation model, which is significantly faster and more cost-effective than its predecessor. The tool runs on Google Cloud infrastructure, reinforcing the company's focus on scalable AI services.
