With more than 140 financial institutions, payment networks, and technology partners\u2014including Visa, Mastercard, American Express, Stripe, BlackRock, Citizens Bank, and Coinbase\u2014participating, and with the initiative announced this week, Open USD represents a test of whether shared infrastructure for tokenized dollars can move from concept to operating reality.<\/p>\n
Unlike most stablecoins, Open USD, expected to launch later this year, will be operated by an independent company governed by a board composed of partner organizations, meaning decisions on reserves, redemption rules, and technical standards are intended to be made collectively rather than by a single issuer.<\/p>\n
Stephen Tu, vice president of Moody\u2019s Ratings Financial Institutions Group, said Open USD is still in its early stages but sees it as a potentially significant cross-industry consortium seeking to shape the next generation of stablecoin payment infrastructure.<\/p>\n
\u201cIts structure reflects a broader trend also seen in tokenized deposits, where consortium-based models may have advantages over single-issuer approaches by aligning incentives, broadening distribution and supporting interoperability through shared governance,\u201d\u00a0Tu said in an email to CFO Daily.<\/p>\n
The economic model differs from today\u2019s dominant stablecoins. Rather than concentrating reserve income with a single issuer, Open USD says partners will be able to mint and redeem tokens at no cost while sharing reserve earnings after a management fee.<\/p>\n
For finance leaders managing settlement collateral, cross-border liquidity, or large payment flows, that raises the possibility of turning what are often idle settlement balances into assets that generate income within a governance framework that participants help oversee.<\/p>\n
The execution will be the determining factor for success. \u201cIts impact will depend on whether those partners route meaningful volume through it rather than simply adding another token to existing payment rails,\u201d Tu said.<\/p>\n
The timing reflects broader changes in digital payments. Stablecoin transaction volumes have grown dramatically in recent years, although a significant share of activity still comes from digital-asset markets rather than everyday commercial payments. The longer-term opportunity lies in whether tokenized dollars become part of mainstream treasury operations, cross-border settlement, and institutional payments.<\/p>\n
Infrastructure providers are already positioning for that possibility. Fireblocks, one of Open USD\u2019s infrastructure partners, argues that digital assets are increasingly becoming part of the financial plumbing behind enterprise payments.<\/p>\n
\u201cThis is an inflection point: digital assets are becoming a crucial part of how value moves around the world, underpinning and transforming business-critical payment flows,\u201d Fireblocks CEO and co-founder Michael Shaulov wrote in a blog post.<\/p>\n
For CFOs under pressure to modernize working-capital cycles and support 24\/7 business models, the strategic question isn\u2019t whether to hold stablecoins as speculative assets. It\u2019s whether the infrastructure that moves money is beginning to change\u2014and whether their organizations have a voice in shaping it.<\/p>\n
The takeaway for finance leaders: Open USD itself may or may not become the dominant stablecoin. The more consequential question is whether consortium-owned payment infrastructure becomes the preferred model for tokenized money. If it does, finance leaders will have to decide whether to help shape those networks\u2014or adapt to standards established by others.<\/p>\n
*Quick note:<\/strong> In honor of America\u2019s 250th birthday, we will not publish tomorrow. The next CFO Daily will arrive in your inbox on Monday. Happy Fourth of July, and have a great weekend.<\/p>\n Sheryl<\/strong>\u00a0Estrada<\/strong> \u2014Michael Angelakis<\/b>, former vice chairman and CFO of Comcast Corporation<\/b> (No. 37), will return as strategic advisor to assist in the separation of its media and technology businesses into two independent, publicly traded companies through a tax-free spin-off of NBCUniversal and Sky. Angelakis will then become CEO of Comcast when the transaction is expected to close in mid-2027. Mike Cavanagh, currently co-CEO of Comcast, will become CEO of NBCUniversal.<\/p>\n Angelakis joined Comcast in 2007 and stepped down as CFO in 2015 to launch Atairos, a strategic investment company formed in partnership with Comcast, where he became chairman and CEO. Atairos remains focused on long-term investments in growth companies.\u00a0<\/p>\n \u2014Christina Zamarro, <\/b>EVP and CFO of\u00a0The Goodyear Tire & Rubber Company<\/b>\u00a0(No. 239), will leave the company for another opportunity, effective July 10. Zamarro joined Goodyear in 2007 and has spent nearly two decades in financial leadership roles at the company, becoming CFO on January 1, 2023. \u201cShe has been a valued partner across the business, helping advance important initiatives and positioning the company for continued progress,\u201d CEO Mark Stewart said in a\u00a0statement.<\/p>\n Scott Deakin<\/b> has been named interim CFO at Goodyear, effective July 1. A former public company CFO and multi?industry operating executive, Deakin has more than 25 years of financial and operational experience and most recently served as CFO at Gypsum Management & Supply, Inc., a wholesale distributor of interior construction products, from 2019 to 2026. Goodyear is conducting a comprehensive search process to identify a permanent chief financial officer.<\/p>\n Every Friday morning, the weekly Fortune 500 Power Moves column tracks Fortune 500 company C-suite shifts\u2014<\/i>see the most recent edition<\/i>.<\/i> More notable moves this week:<\/strong><\/p>\n Jonathan Collins<\/b>\u00a0was appointed SVP of finance and CFO of\u00a0Genesco Inc. (NYSE: GCO), a footwear company, effective Aug. 3. Genesco president and CEO Mimi E. Vaughn has served as interim CFO since March. Collins brings more than 30 years of senior financial experience. Most recently, he served as CFO of America\u2019s Car-Mart, Inc. He previously spent more than a decade with Walmart in a series of successive executive leadership roles, including CFO of Walmart Africa, chief accounting officer of Flipkart Group, and chief accounting officer of Walmart.<\/p>\n Ravi Thanawala<\/b>, CFO of\u00a0Papa John’s International, Inc.\u00a0(Nasdaq: PZZA), is leaving for a CFO position at another public company. Chris Collins, SVP of corporate finance and principal accounting officer, has been appointed to the additional position of interim CFO, effective immediately. Thanawala will be available in an advisory capacity until July 31. The company has begun a search for a permanent CFO.<\/p>\n Heather Larkin<\/b> was appointed CFO of Deltek, a multinational enterprise software and information solutions company. Larkin brings more than two decades of financial leadership, with experience in SaaS transformation, cloud-era finance operations, and scaling finance organizations through periods of rapid growth. She joins Deltek from UKG, a global human capital management platform company, where, as senior vice president of finance, she led financial planning and analysis across the company\u2019s worldwide business.<\/p>\n Adarsh Parekh\u00a0<\/b>was appointed CFO of\u00a0Quantum Space, a defense and space manufacturer. Parekh, a space industry veteran, will oversee the company\u2019s financial strategy as it advances development of the Ranger spacecraft platform and enters the public markets via a proposed combination with Inflection Point Acquisition Corp. VI (Nasdaq: IPFX). He joins Quantum Space from Sidus Space, where he served as CFO. Before that, Parekh was CFO of Terran Orbital, where he helped lead the company\u2019s sale to Lockheed Martin.\u00a0<\/p>\n Jason Knoblauch<\/b>\u00a0was appointed CFO of\u00a0Fortrea\u00a0(Nasdaq: FTRE), a global contract research organization, effective July 6. He will succeed Jill McConnell, who is stepping down. Knoblauch joins Fortrea from Clario, a provider of endpoint data solutions. Before that, he was CFO at Curia. Earlier in his career, Knoblauch served in various financial leadership roles at Pharmaceutical Product Development, including interim CFO.\u00a0<\/p>\n E*TRADE from Morgan Stanley\u2019s monthly analysis gauges clients’ behavior in June.\u00a0<\/p>\n He continued, “The sell-offs within financials, health care and energy may suggest investors rotated away from more defensive exposures amid continued debate over the interest-rate outlook and lingering questions about energy demand and oil prices.”<\/p>\n<\/div>\n Here are four\u00a0<\/b>Fortune<\/i><\/b>\u00a0weekend reads:<\/b><\/p>\n “CEO of $248 billion cybersecurity company says workers are about to face a \u2018Darwinian moment\u2019 thanks to AI: Evolve or get cut” \u2014Emma Burleigh<\/p>\n “As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch” \u2014Marco Quiroz-Gutierrez<\/p>\n “Anthropic\u2019s AI models are back online after a two-week government standoff\u2014settling the company and administration into a fragile truce” \u2014Tristan Bove<\/p>\n “U.S. Polo Assn. CEO was told he wasn\u2019t right for a promotion\u2014so he \u2018outworked\u2019 anyone else who wanted the job for 6 months straight” \u2014Orianna Rosa Royle<\/p>\n “I\u2019m proud to be a part of AT&T\u2019s history and of America\u2019s history, and I am deeply grateful for the opportunities this country has given me and my family.”<\/b> \u2014Pascal Desroches, CFO at AT&T, wrote in a reflective LinkedIn post on Wednesday.\u00a0<\/p>\n<\/div>\n #CFOs #pay #attention #Open #USDthe #stablecoin #backed #companies<\/p>\n","protected":false},"excerpt":{"rendered":" Good morning. For CFOs across banks, payments companies, and nonbank lenders, Open Standard\u2019s upcoming launch of Open USD, a new stablecoin for global money movement, deserves more than a cursory… <\/p>\n","protected":false},"author":1,"featured_media":10227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[10663,11326,369,458,460,459,461,463,1292,467,462,464,465,181,525,469,468,466,1310,470,471,12078],"class_list":["post-10226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-attention","tag-backed","tag-ceo","tag-ceos","tag-cfo","tag-cfos","tag-chief-financial-officer","tag-chief-financial-officers","tag-companies","tag-everette-taylor","tag-finance-chief","tag-kickstarter","tag-kickstarter039s-new-finance-chief-is-ultra-extroverted-and-she-credits-that-trait-to-her-success-as-a-people-centric-cfo","tag-open","tag-pay","tag-people","tag-people-centric","tag-sindy-wilson","tag-stablecoin","tag-talent","tag-tech-company","tag-usdthe"],"_links":{"self":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/10226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10226"}],"version-history":[{"count":0,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/10226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/media\/10227"}],"wp:attachment":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Sheryl.Estrada@fortune.com<\/p>\nLeaderboard<\/h3>\n
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