BlackRock joins OUSD revenue-sharing stablecoin project

• Open Standard said BlackRock, Coinbase, Ripple and Mastercard have joined the OUSD stablecoin project, which will share reserve income with participating institutions.
• The proposed stablecoin will allow partners to mint and redeem tokens without fees or volume limits while participating in network governance.
• Open Standard said OUSD is expected to launch later this year on the Solana and Tempo blockchains.

Open Standard announced that BlackRock, Coinbase, Ripple and Mastercard have joined the Open USD stablecoin project, which the organisation said will distribute reserve income to participating institutions while allowing fee-free minting and redemption.

The proposal enters a stablecoin market where issuers are expanding beyond payments into governance and tokenised asset services, with Open Standard stating that OUSD is scheduled to launch later this year on the Solana (CRYPTO:SOL) and Tempo blockchains.

“Open USD is a constructive step toward giving businesses more choice in how they access tokenised value and participate in internet native digital rails,” said BlackRock Global Head of Market Development Samara Cohen.

Open Standard said participating organisations will govern OUSD through a shared board rather than a single issuer, while reserve income will be distributed among members after deducting a management fee to cover operating costs.

The organisation said the stablecoin is intended to support institutional adoption by removing minting and redemption fees and sharing reserve revenue, and as the announcement relates to a consortium rather than a listed issuer there was no direct share price reaction to report.

The announcement follows recent collaboration between Ripple, Coinbase and Mastercard on an artificial intelligence-powered payments system using stablecoins for AI agent transactions, as well as Ripple's proposal for an institutional lending protocol on the XRP Ledger.

Open Standard said OUSD will compete in the institutional stablecoin market by combining shared governance, revenue sharing and support for tokenised assets, although the project remains subject to its planned launch later this year.

At the time of reporting, Solana price was $73.52.