BlackRock joins Coinbase, Ripple to launch revenue-sharing stablecoin

BlackRock, Coinbase, Ripple, Mastercard, and more than a dozen financial firms have partnered to launch OUSD, a new stablecoin that distributes reserve earnings to participating institutions through a shared governance model.

Summary

• BlackRock, Coinbase, Ripple, Mastercard, and other firms will launch the revenue-sharing OUSD stablecoin.
• OUSD offers zero-fee minting and redemption while distributing reserve income to participating partners.
• The stablecoin will debut on Solana and Tempo with shared governance led by institutional members.

Open Standard announced that OUSD is scheduled to launch later this year, introducing a stablecoin framework that allows partner institutions to mint and redeem tokens without fees while sharing income generated from the underlying reserves.

The organization said participating firms will also take part in governing the network through a joint board rather than relying on a single issuer.

OUSD introduces shared governance and reserve revenue model

According to Open Standard, the project was created to address several long-standing issues businesses face when using stablecoins. The organization said many existing products charge high fees for large-scale minting and redemption, while companies using those stablecoins often receive none of the income generated by the reserve assets backing them.

Under the proposed structure, Open Standard said partners will be able to mint and redeem OUSD without artificial volume limits or transaction fees. Reserve income will be distributed among participating organizations after deducting a small management fee intended to cover operational expenses.

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Governance will also be handled collectively. Open Standard said its board will include representatives from participating firms, allowing members to make decisions jointly on matters affecting the stablecoin rather than leaving development and policy entirely to a single issuer.

The consortium includes BlackRock, Coinbase, Ripple, Mastercard and several other financial and technology companies. OUSD is expected to launch natively on layer-1 blockchains including Solana and Tempo later this year. Solana has already confirmed native support from day one, highlighting the stablecoins decentralized governance model alongside its zero-fee minting and redemption process.

Institutional stablecoin activity continues to expand

The announcement follows another recent collaboration involving several of the same companies.

As crypto.news previously reported, Ripple and Coinbase recently backed Mastercards artificial intelligence-powered payment system, which is designed to use stablecoins for AI agent transactions.

Ripple has also continued adding institutional financial infrastructure to the XRP Ledger. As crypto.news reported, the company has proposed a lending protocol that would allow financial institutions to borrow digital assets without selling their holdings.

Ripple said the protocol is intended to support lending markets for tokenized U.S. Treasuries, money market funds, stablecoins, commodities, private credit and other real-world assets while addressing what it considers a missing layer of blockchain-based financial infrastructure.

Industry participants involved in OUSD described the initiative as a practical step for institutional adoption.

Samara Cohen, BlackRocks Global Head of Market Development, said the company believes stablecoins can play an important role in digital markets when supported by trusted infrastructure and practical utility.

“Open USD is a constructive step toward giving businesses more choice in how they access tokenized value and participate in internet native digital rails.”

Coinbase Chief Business Officer Shan Aggarwal said stablecoins remain one of the most important developments in payments, adding that stronger shared infrastructure can help narrow the gap between todays payment systems and the capabilities blockchain technology can offer.

If launched as planned, OUSD will enter an increasingly competitive institutional stablecoin market where issuers are moving beyond payments and settlement to offer governance participation, tokenized asset support and revenue-sharing models designed for large financial institutions.