Open USD stablecoin backed by Visa, Mastercard and Google challenges USDC and USDT

Open USD has launched as a new stablecoin backed by major players including Visa, Mastercard and Google, directly targeting incumbents USDC and USDT. It marks the first significant challenge to the stablecoin duopoly in years. The heavy-hitting backers signal growing mainstream financial interest in the stablecoin space.