SoFi Joins Visa, BlackRock and Coinbase in Revenue-Sharing Stablecoin Launch
SOFI•SoFi is joining a consortium of major payments, banking, crypto and tech firms including Visa, Mastercard, Stripe, BlackRock and Coinbase to launch Open USD (OUSD), a new stablecoin targeting USDC and USDT. OUSD’s economic model allocates nearly all reserve income to participating firms through revenue-sharing, diverging from incumbents that retain most yields.
1. Consortium Formation
SoFi has partnered with a coalition including Visa, Mastercard, Stripe, BlackRock, Coinbase, Adyen, Klarna and Shopify to develop Open USD (OUSD), a new dollar-pegged stablecoin. The partnership also features major banks such as BNY Mellon, Standard Chartered, BBVA and DBS, positioning OUSD as a multi-industry initiative.
2. OUSD Economic Model
OUSD’s structure shares nearly all reserve income with companies that adopt and distribute the token, minus a small management fee. This model contrasts with Circle’s USDC and Tether’s USDT, which retain the majority of income generated from reserves.
3. Implications for SoFi
By participating in OUSD, SoFi could unlock a new revenue stream tied to stablecoin reserve yields and strengthen its footing in digital finance. The launch coincides with advancing US stablecoin regulations, potentially benefiting early adopters in a clearer regulatory environment.
