Visa, Mastercard, and Partners Seek Brazilian Antitrust Approval for Stablecoin Joint Venture

Visa, Mastercard, Coinbase, Stripe, and Shopify have notified Brazil's Administrative Council for Economic Defense (Cade) regarding a joint venture to issue the OUSD stablecoin. The initiative, managed by Open Standard, aims to build infrastructure for payments, treasury, and institutional trading. OUSD, which launched on September 30, is issued by Stripe-acquired Bridge and operates on Base, Ethereum, Solana, and Tempo networks, with reserves held by BlackRock, Lead Bank, and BNY.