Mastercard Joins Open USD Consortium of 140+ Firms for Zero-Fee Stablecoin
MA•Mastercard joined a 140+ member consortium including Visa, Stripe and BlackRock to launch Open USD, a zero-fee stablecoin network governed by an independent board sharing reserve earnings. The network, set to launch later this year, could diversify Mastercard’s transaction revenue via digital asset minting and redemption services.
1. Consortium Launches Open USD Stablecoin
A coalition of over 140 companies, including Mastercard, Visa, Stripe and BlackRock, has formed Open USD, a new dollar-backed stablecoin network. Partners will be able to mint and redeem tokens with no fees or volume caps, positioning the network as a low-cost alternative for enterprise payments.
2. Governance Structure and Fee Model
Open USD is governed by Open Standard, an independent entity whose board comprises partner representatives rather than a single issuer. The model returns most reserve interest earnings to partners after a management fee, addressing industry concerns over high minting costs and concentrated issuer control.
3. Implications for Mastercard
By joining Open USD, Mastercard gains exposure to a shared digital payments infrastructure that could generate new fee-based revenue from minting and redemption services. The move strengthens its competitive position in enterprise stablecoin solutions ahead of the network’s planned launch later this year.
