Fortune commented that Open Standard announced this week’s Open USD plan, and that the new United States dollar stabilizer is not just another token brand. Of even greater concern is the attempt to push the dollar of dollarization into corporate payments, cross-border settlements and institutional fund management scenarios in a federally co-regulated manner.
Over 140 institutions participated
According to the article, there were over 140 participants, including financial institutions, payment networks and technical partners, including Visa, Mastercard, American Express, Stripe, BlackRock, Citizens Bank and Coinbase. Open USD is expected to be launched later this year.
Unlike the most single-issue-led stabilization currency, Open USD will be run by an independent company and governed by a board of directors composed of partners. Reserve management, foreclosure rules and technical standards are planned by multiple parties rather than by a single body.
Different income distribution patterns
According to the article, the economic model of Open USD is also different from the current mainstream stable currency. According to the projecter, the partner could complete the casting and foreclosure at zero cost and share the benefit of the reserve after deduction of the management fee, rather than concentrating interest income on a single issuer.
For the financial head of the enterprise responsible for the settlement of collateral, cross-border liquidity and substantial payments, this means that the previously inactive settlement balance may in the future be included in a fund arrangement that would generate revenue. The premise is that the system can truly enter the day-to-day payment process, not just at the conceptual level.
It's about real traffic.
Stephen Tu, Vice-President of Moody ' s Group of Rating Financial Institutions, said fortune that Open USD was still in its early stages, but it could be an important attempt by cross-industry alliances to drive the next generation of stable currency payment infrastructure.
In his view, such a union model was similar to the development of monetized deposits. Alliance structures may be more powerful than single issuers in stimulating consistency, distribution coverage and interoperability. But the ultimate impact depends on whether the partners actually import meaningful transactions into the network, rather than simply adding a new token.
The article also mentioned that, while the volume of currency transactions had grown rapidly in recent years, a significant proportion of activities still came from the digital asset market rather than from daily commercial payments. The longer-term perspective is whether or not the dollar will enter mainstream financial management, cross-border liquidation and institutional payment systems.
Fireblocks is also set up in this direction as one of the infrastructure partners of Open USD. The article quotes Michael Shaulov, its Chief Executive Officer, who claims that digital assets are gradually becoming part of the enterprise ' s downside payment facility.
Additional information:The latter part of the text contains the content of the Fortune CFO Daily column and changes in many business executives, which are not directly related to the Open USD theme and have been deleted according to the information body rules.