That’s where Abrams sees an opening. Open USD, he said, is designed for banking, cross-border payments, card settlement, institutional trading and lending, with an economic model built to reward the companies that drive supply and activity.
“When are stablecoins successful? It’s when they recede into the background and just become a core part of your mom’s bank account,” Abrams said.
From 140 partners to five founders
Open Standard first emerged in June with more than 140 partners across payments, banking, crypto and technology, including BlackRock, BNY and Standard Chartered.
The initial announcement rattled competitor Circle as the market worried that major USDC partners, including Coinbase, Visa and Mastercard, were lining up behind a competing digital dollar.
Some analysts, however, questioned what those partnerships meant in practice and whether a consortium-like structure involving so many companies — some of them…
