Consortium including Visa, Mastercard jointly launch new global stablecoin

A consortium including Visa, Mastercard and Coinbase on Tuesday launched a new joint stablecoin in a bid to broaden the ‌adoption of the digital tokens. The venture, called Open Standard, brings together more ‌than 140 businesses for the stablecoin network and will issue a new U.S.-dollar pegged stablecoin called Open ​USD, which is expected to go live later this year. It is aimed at accelerating the usage of the digital tokens worldwide by addressing hurdles that businesses face in scaling stablecoin adoption, Open Standard said.