Visa and Mastercard form coalition for new currency

A coalition comprising companies like Visa, Mastercard, and Coinbase has launched a new stablecoin called "Open USD," pegged to the U.S. dollar, with the aim of expanding the global adoption of stable cryptocurrencies. The initiative seeks to facilitate the issuance and redemption of the currency without costs to enable businesses to expand, sharing the profits after deducting fees. This move comes as part of regulatory and legislative efforts to promote the use of digital currencies in everyday transactions.

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