Open Standard (OUSD stablecoin)
#Operational · launched 2026-09-30Independent joint venture (Open Standard); OUSD is issued by Bridge, a Stripe subsidiary
A USD-denominated stablecoin (OUSD) built as shared, co-owned payments infrastructure rather than a single company's product — mintable and redeemable at par with no fees or volume caps, live on Ethereum, Solana, Base and Tempo. Founding partners share governance and reserve income rather than a single issuer capturing it, positioned for banking, cross-border payments, settlement, institutional trading and lending.
Members (5)
Coinbase, Mastercard, Shopify, Stripe and Visa are the 5 founding partners, each holding an equal initial equity stake and together committing $1B+ in launch liquidity; first unveiled June 2026, launched 2026-09-30. OUSD is issued by Bridge (the stablecoin company Stripe acquired for $1.1B in 2024), with reserves held at BlackRock, Lead Bank and BNY Mellon (monthly attestations published at reserves.bridge.xyz/ousd). A much broader ~200-company network — including UBS, SBI Holdings, Ripple, Google, and exchanges Kraken, OKX and Bybit — uses or supports OUSD without an equity stake; `members` above lists only the 5 equity-holding founders, not that wider network.
Canada's Big Six tokenized-deposit network
#Forming · announced 2026-09-22 · targeting no date set; phase 1 limited to transfers between the 6 participating banksIndependent joint venture (no name given in coverage)
A shared permissioned ledger letting Canada's six largest banks move tokenized Canadian-dollar deposits between one another instantly, 24/7 — phase 1 covers interbank transfers only (not consumer wallets), targeting faster back-end settlement and programmable payments later, while keeping the same legal/regulatory treatment as ordinary bank deposits. Framed explicitly as competitive defense against USD stablecoins, informed by the Bank of Canada's Project Agorá tokenization research.
Members (6)
No official initiative name was given in the banks' joint statement or in coverage of it — this row is labeled descriptively rather than inventing a name. OSFI (Canada's banking regulator) clarified that a tokenized deposit is "not legally distinct from traditional deposits," giving the project regulatory clarity. The banks say they expect other deposit-taking institutions to join as the work matures, and that links to outside digital-asset ecosystems come later — neither is a commitment yet. Individually patched onto RBC/BMO/CIBC/National Bank's own dossiers (scripts/fix-canada-big-six-dominion-ledger.ts, using "Dominion Ledger" as that script's own editorial label, not the consortium's).
Global bank USD stablecoin consortium
#Forming · announced 2026-09-01 · targeting H1 2027 (USD token); additional G7 currencies, EUR prioritized, to followIndependent joint venture (no name announced yet)
21 banks and asset managers across North America, Europe, East Asia, the Middle East and Africa committing to jointly form and capitalize a company that will issue a USD-denominated stablecoin on public blockchains (not a closed private ledger) for wholesale, institutional and retail use, including cross-border payments and digital-asset settlement.
Members (21)
The entity remains unnamed as of the announcement (multiple independent outlets confirm this explicitly) — company formation targeted for H2 2026, ahead of the H1 2027 token launch. `members` is the complete list BBVA's own press release gives; watch for the eventual entity name and update this row rather than adding a new one.
Anchorpoint (HKDAP)
#Operational · launched 2026-08-12Independent joint venture (Anchorpoint Financial Limited); licensed under Hong Kong's Stablecoins Ordinance (effective 2025-08-01)
HKDAP (Hong Kong Dollar At Par), Hong Kong's first HKMA-regulated HKD-backed stablecoin, built by a joint venture of Standard Chartered, telecom group HKT and Animoca Brands. Launched in an institutional, B2B2C phase via authorised distributors HashKey Exchange and OSL Group; retail access is planned for late 2026.
Members (3)
Standard Chartered Bank (Hong Kong)HKTAnimoca Brands
The Hong Kong Monetary Authority granted Anchorpoint's stablecoin issuer licence on 2026-04-10; HKDAP began its phased institutional rollout on 2026-08-12. Standard Chartered itself became an authorised bank distributor of HKDAP on 2026-08-24.
x402 Foundation
#Operational · launched 2026-07Linux Foundation
Open, community-governed standard putting payments into HTTP itself — reviving the dormant "402 Payment Required" status code so a service can charge an AI agent or another web service a stablecoin micropayment per request, with no accounts, subscriptions or API keys. x402 was created by Coinbase (whitepaper 2025-05-06) and moved to open governance.
Members (14)
Coinbase and Cloudflare first announced a foundation for x402 in Sept 2025; it transitioned to the Linux Foundation on 2026-04-02 and had its operational launch on 2026-07-14 with 40 founding member organizations across three membership tiers (Premier/General/Associate). `members` above lists only organizations independently confirmed by name in dated coverage — not all 40, and Block's 2026-09-25 addition came after the July launch. The current full roster lives at x402.org/members, which this list does not attempt to mirror exactly (member counts there did not fully match press coverage when checked).
SWIFT shared ledger for tokenised cross-border payments
#Operational · launched 2026-07-09SWIFT (built on Hyperledger Besu; Consensys delivered the prototype; Chainlink's CCIP is the cross-chain interoperability layer)
A secure orchestration layer letting banks issue and move bank-issued tokenized deposits on their own ledgers for 24/7 cross-border payments, with instructions routed cross-chain through Chainlink's CCIP using ISO 20022 messages and final settlement through existing systems. 17 banks across six continents are the early-adopter pilots.
Members (17)
SWIFT's own press release names the 17 pilot banks and describes the ledger as "ready for initial use"; it does not itself name Consensys, Hyperledger Besu or Chainlink. The technology-stack detail (Besu, Consensys's prototype role, CCIP as interop) comes from independent dated coverage (genfinity.io), not from SWIFT directly — kept here because it's specific and consistent across multiple outlets, but flagged as a different tier of sourcing than the bank list itself. Distinct from Chainlink's own dossier entry (2026-09-28) covering the same integration from Chainlink's side.
Zelle ZLUSD
#Forming · announced 2026-06-11 · targeting US→India remittance corridor by end of 2026; reserve composition, custodian, chain(s) and regulatory framework undisclosed as of announcementEarly Warning Services, LLC (the bank-owned operator of Zelle)
ZelleUSD (ZLUSD), a proprietary USD-backed stablecoin issued through Early Warning Services to support Zelle's first cross-border remittance capability, starting with a US-to-India corridor. Zelle serves 150M+ users across 2,400+ US banks and credit unions.
Members (7)
Members above are the 7 banks that jointly own Early Warning Services, per its own press release — not a stablecoin-specific membership roster (EWS itself is the issuer). Reserve composition, custodian, blockchain(s) and regulatory framework were explicitly not disclosed at announcement.
Japan megabanks (yen)
#Forming · announced 2026-06-10 · targeting Live corporate (B2B) transactions by March 2027; targeting ¥1 trillion in B2B stablecoin volume by 2028Joint trust arrangement — MUFG Bank, Mizuho Bank and Sumitomo Mitsui Banking Corporation as joint settlors, with a separate trust bank to act as trustee
A jointly-issued yen stablecoin from Japan's three largest banks (combined $7T+ in assets), running on MUFG's Progmat platform under the Financial Services Agency's Payment Innovation Project. Issued under a trust structure so reserves sit off any single bank's balance sheet.
Members (3)
MUFG BankMizuho BankSumitomo Mitsui Banking CorporationNo official initiative name has been given by the three banks themselves — multiple independent outlets (The Defiant, Fintech Futures, Fintech Observer, Cryptonews) refer to it as "Project Pax," which this row's name is NOT asserting as official. The banks signed an MOU on 2026-06-10 to form a governance council; no single bank's own press release was found, so sourcing here rests on the "two independent outlets" bar rather than a primary.
Swiss CHF stablecoin sandbox
#Forming · announced 2026-04-08 · targeting Sandbox runs through 2026; open to additional banks, companies and institutionsIndependent joint venture (Swiss Stablecoin AG) with 6 participating financial institutions
A controlled, live sandbox testing use cases for a regulated Swiss franc (CHF) stablecoin — defined transaction limits and a restricted participant pool manage operational/regulatory risk while the group explores connecting blockchain applications to the franc.
Members (7)
Launched 2026-04-08 by 6 Swiss financial institutions plus Swiss Stablecoin AG, per PostFinance's own press release. This is a sandbox exploring a future CHF stablecoin, not a live stablecoin product itself — status reflects that.
DDSC (UAE dirham)
#Operational · launched 2026-02-11Independent joint venture (IHC, Sirius International Holding, First Abu Dhabi Bank)
A dirham-backed stablecoin (DDSC) for payments, settlement and treasury operations, running on ADI Chain, an institutional Layer-2 blockchain built by the Abu Dhabi-based ADI Foundation. Backed 1:1 by UAE dirham reserves and approved by the Central Bank of the UAE (CBUAE).
Members (3)
First announced as an initiative by IHC and First Abu Dhabi Bank in April 2025; CBUAE approved it to go live on 2026-02-11, with Sirius International Holding (IHC's technology subsidiary) joining for the operational phase. IHC had processed AED 150M+ through DDSC by mid-2026, including a single AED 110M transaction in May 2026.
Qivalis (EUR)
#Forming · announced 2025-09 · targeting H2 2026Independent joint venture (Qivalis); pursuing E-Money Institution authorisation from the DNB (Dutch central bank)
A MiCAR-compliant, euro-denominated stablecoin backed by a consortium of European banks, positioned as a regulated European payment standard for faster/cheaper payments and digital-asset settlement — built on Fireblocks infrastructure.
Members (12)
Founded September 2025, domiciled in Amsterdam. `members` above is the founding group named in BBVA's own release; the consortium has grown well beyond it — Piraeus joined in May 2026, and by mid-2026 coverage put total membership above 37 banks. Not all are tracked here.
AllUnity (EURAU)
#Operational · launched 2025-07-31Independent joint venture (AllUnity GmbH); licensed by BaFin as an E-Money Institution
A fully-reserved, MiCAR-compliant euro stablecoin (EURAU) — Germany's first — built by a joint venture of Deutsche Bank's asset manager DWS, Galaxy Digital and Flow Traders. Live on Ethereum (Solana expansion planned), listed on Bullish Europe, with Flow Traders as designated market maker.
Members (3)
DWSGalaxy DigitalFlow Traders
BaFin granted AllUnity's E-Money Institution licence on 2025-07-01; EURAU launched the next day. A consortium of European banks acts as reserve custodians.
European Payments Initiative (Wero)
#Operational · launched 2024EPI Company SE (European public company)
Wero, a pan-European digital wallet and account-to-account payment scheme built and capitalized jointly by major European banks and payment service providers, to give the continent bank-owned payment rails independent of Visa, Mastercard and PayPal. Covers P2P transfers (live since 2024 in Belgium, France and Germany), e-commerce checkout, and in-store (POS) payments rolling out through 2026.
Members (18)
18 shareholders jointly capitalized EPI Company SE; Erste Bank Oesterreich and Raiffeisen Bank International (plus its regional Landesbanken) joined as the newest shareholders in June 2026. Beyond the 18 capitalizing shareholders, EPI's own site counts 50+ additional member institutions on the bank and merchant-acquirer sides, and some coverage cites a much larger reach (1,100+) further downstream — `members` above lists only the 18 shareholders, not that wider network. Luxembourg and the Netherlands (migrating from iDEAL) joined the Wero footprint in 2026.
Global Dollar Network (USDG)
#Operational · launched 2024-11-05Network advisory committee with representation from partner organizations; USDG is issued by Paxos Digital Singapore
An open, enterprise-driven distribution network for USDG, a USD-denominated stablecoin designed so yield earned on reserves is rebated back to network members in proportion to the circulation they bring, rather than a single issuer capturing it. Reserves are held at regulated institutions including DBS Bank.
Members (7)
Members above are the 7 founding organizations named in Paxos's own launch release. The network has since grown far beyond that founding group — Mastercard joined to enable any Mastercard institution (including banks) to mint, distribute and redeem USDG, and DBS Bank joined as a reserve-custody partner; as of 2026-09-15, Ledger Insights reported 130+ integration partners and ~$3.2B in circulating USDG supply. Not all 130+ are tracked here.
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