Mastercard launches Open USD stablecoin on Solana for cross-border payments

Mastercard has announced the launch of the Open USD (OUSD) stablecoin on the Solana blockchain, aimed at enhancing cross-border payment efficiency by reducing multi-day delays and opaque transaction fees. This initiative involves collaboration with major partners including Visa , Coinbase , Stripe, and Shopify, indicating a significant push towards stablecoin adoption in the financial sector. The introduction of OUSD is part of Mastercard’s broader strategy to offer financial institutions and enterprises a more efficient payment and settlement infrastructure, utilizing BVNK to facilitate these transactions.