Visa

Aug 9, 2026 money

Open USD, backed by Visa and Mastercard, is set to launch on Ethereum

Open USD (OUSD), the institution-focused stablecoin built by the Open Standard consortium of more than 140 companies including Visa, Mastercard, Stripe, BlackRock, BNY and Coinbase, is set to launch on Ethereum from day one, per U.Today, though CoinShares reported on July 13 that Solana and Tempo said OUSD will be issued natively on day one. The token is expected to go live later this year. The design challenges Tether and Circle directly: no single issuer, consortium governance, fee-free minting and redemption, and reserve earnings distributed to ecosystem partners.

Aug 9, 2026 moneyculture

Visa is cutting 320 Bay Area roles, including six vice presidents

A WARN notice filed with California's Employment Development Department on July 31, 2026 details 320 job cuts at Visa's Foster City campus, effective October 1, including six vice presidents, 37 senior directors, 16 chief engineer or architect roles and dozens of senior technical positions. The Bay Area cuts are part of a roughly 7 percent workforce reduction, about 2,600 jobs, which Bloomberg ties in part to CEO Ryan McInerney's push to build more AI into company workflows.

Aug 9, 2026 productsmoney

X Money went live across the US as a neobank with no crypto

On July 27, 2026, X started rolling out X Money to all US Premium and Premium+ subscribers in 41 states plus Washington DC, excluding New York and Massachusetts for now. The service offers deposit accounts operated by X Payments LLC with FDIC-insured Cross River Bank, a metal Visa debit card, up to 6% APY, 3% cashback and free instant transfers to any X handle. Despite Musk's crypto history, it launched fiat-only, with no Bitcoin, stablecoins or on-chain settlement, though execs hint stablecoins may come later.