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Ethereum Price Prediction: Blackrock Backed Stablecoin to Launch on ETH

Ethereum Price Prediction: Blackrock Backed Stablecoin to Launch on ETH

Ethereum price is trading near $1,900, but the market may be underestimating a major institutional development that could boost its prediction.

A consortium of more than 140 organizations, including BlackRock, Visa, Mastercard, Stripe, and BNY, confirmed plans to launch a new Ethereum-based stablecoin.The project, called Open USD (OUSD), is governed by Open Standard, an independent consortium.

Instead of concentrating reserve income with one issuer, it distributes earnings across ecosystem partners. Fundstrat co-founder Tom Lee called the launch another sign of Ethereum’s growing role in global finance.

OUSD also lets businesses mint and redeem without fees or volume caps. Breaking: Open USD will launch on @ethereum on day one.Over 140 businesses, including Visa, Mastercard, Stripe, BlackRock and BNY.

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