Visa, Stripe & 140 companies launch Open USD to rewrite who profits from stablecoins 🪙; ChatGPT linked your bank account. Finance apps are just first casualty 📊; Claude Fable 5 returns tomorrow 🤖
FinTech is Eating the World, 1 July
Hey Everyone,
Good morning & happy Wednesday! Today’s issue is super hot as we’re diving into Visa, Stripe, and 140 companies, which just launched Open USD to rewrite stablecoin economics (what Open Standard & OUSD is all about, why it matters, and what it means for the future of finance & fintech + bonus deep dives into Circle, Coinbae and the ultimate list of stables resources inside), AI giant OpenAI that just proved it can get users to hand over their financial data voluntarily (what expanding access to personal finance feature for ChatGPT tells us & which fintechs are now the most vulnerable + bonus dive into OpenAI’s Super App Strategy and The Founders Playbook for Winning Attention in the AI Age inside), and Claude Fable 5, which is now officially returning tomorrow (what the return of Anthropic’s most powerful LLM tells us & why the first federal AI recall already changed everything + bonus Mythos 5 Prompting Playbook & how to Unlock Claude Fable 5 Lite on Claude Opus 4.8 inside). So let’s just jump straight into the finnovative stuff 🌶️
Visa, Stripe, and 140 companies launch Open USD to rewrite who profits from stablecoins 😳🪙
The BIG News 🔥 Yesterday, 140 companies that collectively touch most of the world’s payment volume decided they’d rather own the stablecoin than rent it.
Open USD, backed by Visa, Mastercard, Stripe, BlackRock, BNY Mellon, Coinbase, Shopify, Rakuten, and DoorDash, among many others, is a new dollar-pegged stablecoin built around one inversion: the partners who drive adoption capture nearly all the reserve yield, not the issuer.
Zero mint and redemption fees. No volume caps.
No wonder Circle’s CRCL 0.00%↑ stock dropped nearly 14% within hours…
So let’s take a closer look at this and break down the real economics behind Open USD, what each type of partner stands to gain, why JPMorgan and the largest U.S. banks are assembling a rival stablecoin bloc, and the three signals that will tell you whether Open USD reshapes payments or fractures under the weight of its own coalition.
