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Visa, BlackRock and other firms back Open USD stablecoin initiative led by Aptos Labs
The Apex Times

THE APEX TIMES

Business/The Apex Times/Jun 30, 2:16 PM EDT

Visa, BlackRock and other firms back Open USD stablecoin initiative led by Aptos Labs

Aptos Labs says it is joining a growing set of companies, including Visa, Mastercard, Coinbase and BlackRock, to support a new stablecoin called Open USD.

By The Apex Times Newsroom2 min readAI-assisted Apex article

Aptos Labs has joined more than 140 companies backing the launch of a new stablecoin, Open USD, according to a report carried by Yahoo Finance. The roster cited in the report includes major payments and financial services names such as Visa and Mastercard, trading platforms including Coinbase, and asset manager BlackRock.

Stablecoins are digital tokens designed to hold a stable value, typically pegged to a currency such as the U.S. dollar. Supporters argue that stablecoins can move money across borders and between systems with lower friction than some traditional rails, targeting persistent issues around cost, speed and access in global payments.

In the report, Open USD is framed as an effort to address those kinds of pain points. While the initiative’s backers include well-known incumbents in payments and finance, the report does not lay out detailed technical specifications, governance terms, or the exact distribution plan for Open USD in the materials provided here.

The participation by Visa, BlackRock and other large firms underscores the broader shift in how banks, platforms and payments companies are approaching crypto-based settlement. Rather than treating stablecoins only as speculative instruments, more established players increasingly seek ways to use stablecoins as infrastructure, particularly where interoperability and payment efficiency matter.

For Aptos Labs, backing a stablecoin initiative adds another link in its efforts to build on a public blockchain ecosystem. However, the report does not specify what role Aptos Labs will play beyond being among the supporting companies, such as whether it will run nodes, provide development, or contribute to issuance or redemption.

What is not clear from the cited report is when Open USD will launch, what regulatory jurisdictions it will prioritize, and how the token’s stability mechanism is structured. The materials also do not describe whether Open USD will support specific payment use cases, integrate with particular wallets or exchanges, or publish audits and reserves documentation as part of an initial rollout.

Market participants will likely look for follow-through on disclosure, including reserve and redemption policies, any issuer or operator identity behind Open USD, and the operational details that determine how users can convert between the stablecoin and fiat currency. Additional information on partnerships, integrations and compliance steps would be particularly relevant given the involvement of regulated financial firms named in the report.

Why It Matters

  • Stablecoin initiatives with participation from major payments and financial firms may accelerate efforts to test crypto rails in mainstream finance.
  • A widely backed stablecoin project could intensify competition among settlement options aimed at lowering cross-border payment friction.
  • The project’s credibility will hinge on later disclosures about governance, reserves, redemption mechanics, and compliance.

Sources

Key Facts

  • Aptos Labs is backing the launch of a new stablecoin called Open USD.
  • More than 140 companies are described as supporting the initiative.
  • The report lists Visa, Mastercard, Coinbase, and BlackRock among the firms backing Open USD.
  • Open USD is positioned as a stablecoin intended to reduce ongoing cost and access challenges in global payments.

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The Apex Times

Dimon warns prolonged high rates could stress consumers and credit markets, raising questions for JPMorgan Chase’s outlook

JPMorgan Chase CEO Jamie Dimon cautioned that if high interest rates persist, the strain could spread from consumers to broader credit conditions. The comments underline the sensitivity of bank earnings to the path of inflation, asset prices, and credit performance, even as JPMorgan largely benefits from higher-rate environments.

Dimon warns prolonged high rates could stress consumers and credit markets, raising questions for JPMorgan Chase’s outlook
The Apex Times