BlackRock

Visa, Stripe Back Open USD Stablecoin Sharing Yield

Open USD is a newly announced dollar‑pegged stablecoin backed by a coalition of about 140 payments and financial companies — including Visa, Mastercard, Stripe, BlackRock, BNY Mellon, Coinbase, Shopify, Rakuten and DoorDash — designed so partner organizations capture most reserve yield rather than a single issuer. Open Standard (the independent entity) will be run temporarily by Zach Abrams, uses 1:1 dollar backing with reserves in Treasuries and cash, and supports multi‑chain issuance across Solana, Stellar, Base and Polygon. The launch follows the U.S. GENIUS Act (2025) and triggered an immediate market reaction (Circle stock fell ~14%). The newsletter also covers 𝕏 Money’s late‑June 2026 rollout (Cross River Bank + Visa rails) offering 6% APY, a Visa debit card, instant P2P and FDIC sweep — a distribution play that could reshape deposit economics and attention monetization.

Visa, Stripe Launch Open USD Stablecoin

A coalition of 140 companies including Visa, Mastercard, Stripe, BlackRock, BNY Mellon, Coinbase, Shopify, Rakuten and DoorDash launched Open USD, a new dollar‑pegged stablecoin that inverts traditional economics so partners who drive adoption capture nearly all reserve yield rather than the issuer. Open USD promises zero mint and redemption fees and no volume caps. The move rattled markets—Circle’s stock fell sharply after the announcement—and prompted discussion that major banks, including JPMorgan, are assembling a rival stablecoin bloc. The article frames Open USD as a potential reshaper of payments and stablecoin economics while noting institutional resistance and several signals to watch for its adoption or fragmentation.

German Court Finds Google Liable for AI Overviews

A German court issued a preliminary ruling that held Google potentially liable for false statements generated by its AI “overviews” in search results. Two publishers sued after the overviews branded them as scams and Google allegedly ignored cease-and-desist requests; the court concluded AI Overviews create "independent, new, substantive statements" rather than merely pointing to third-party content, and barred Google from repeating those statements. The decision rejects the defense that user-facing disclaimers shift liability to users and marks a possible first where an AI firm's output is treated as the firm's own speech. The ruling raises legal exposure for AI search features and could force product changes across AI-enabled search products and summary features that synthesize web content.