Open Standard Unveils Dollar Stablecoin Backed by Visa and Mastercard
MA•Open Standard, a new firm led by Bridge co-founder Zach Abrams, unveiled a dollar-denominated stablecoin backed by Visa and Mastercard partnerships. The issuance aims to integrate directly with their card networks to enable streamlined crypto payments for merchants worldwide.
1. Open Standard Launch Initiative
Open Standard, founded by Bridge co-founder Zach Abrams, is preparing to issue a dollar-pegged stablecoin. The infrastructure is built to support seamless issuance and redemption for corporate and institutional users.
2. Visa and Mastercard Integration
The new coin is backed by partnerships with Visa and Mastercard, enabling direct acceptance on their existing card networks. This integration allows merchants to settle crypto-based transactions alongside traditional card payments.
3. Implications for Mastercard
By endorsing the stablecoin, Mastercard could capture increased payment volume and generate additional transaction fees from crypto-based settlements. The initiative underlines Mastercard’s strategy to deepen its presence in blockchain-enabled payments.
4. Competitive Landscape
Open Standard’s dollar stablecoin enters a market dominated by USDC and USDT. Its network backing and compliance framework may offer differentiation through broader commercial acceptance and regulatory assurances.
