Open Standard’s open usd (OUSD) stablecoin went live on Sept. 30, 2026, with more than $1 billion committed by five founding partners: Coinbase, Mastercard, Shopify, Stripe and Visa, according to News.bitcoin. The dollar-pegged token launched natively across Ethereum, Base, Solana and Tempo.
The project’s twist is economic. Know-your-business verified companies can mint or redeem OUSD at par without fees or volume caps, while participating partners collect most of the income generated by the reserves backing the token. The approach contrasts with established stablecoins whose issuers typically retain reserve income.
Also read: Visa survey: US stablecoin use could rise to 56% with bank-like cover
Key facts
- OUSD launched Sept. 30, 2026, with over $1 billion committed by Coinbase, Mastercard, Shopify, Stripe and Visa, each holding equal initial equity stakes.
- Tempo reported more than $400 million in OUSD liquidity on its first day, with Chief Business Officer Dan Romero saying the chain targets roughly $1 billion within a few months.
- Reserves are held 1:1 in U.S. dollars at financial institutions including Blackrock, Lead Bank and BNY, with Bridge issuing the token and publishing monthly attestations.
- Access runs through Stripe, Mastercard-owned BVNK and the Visa Stablecoin Platform, with Coinbase support starting Oct. 1.
- Open Standard’s partner roster grew from more than 140 companies at the June 30 unveiling to above 200 by launch day.
How the economics work
Open Standard takes only a small management fee, leaving the remainder of reserve yield to partners that expand OUSD supply and transaction volume. Much of the remaining ownership is earmarked for those partners. Bridge, acquired by Stripe in 2024 for $1.1 billion, issues the token and retains upgrade, pause, freeze and allowlist powers. Partnerships also carry undisclosed activity thresholds for earning ownership.
CEO Zach Abrams framed the goal as utility rather than asset management, describing OUSD as money rather than a fund. Stripe’s Will Gaybrick said OUSD will become Stripe’s default stablecoin for businesses, while executives from Visa, Mastercard and Coinbase have said they continue to support multiple coins rather than replace USDC.
Also read: Citi Taps Coinbase to Convert Corporate Stablecoin Payments Into Fiat
Why it matters
OUSD competes not only for circulation but for the revenue that stablecoin issuers have long kept from their float. That model shift matters to any business that moves dollars through card networks, payment processors or crypto rails, since partner economics could influence which stablecoin merchants adopt. The partner list extends beyond the founders to include American Express, Discover, Blackrock, BNY, Standard Chartered, U.S. Bank, Google, Ripple, Western Union, UBS and Japan’s SBI Holdings. USDC issuer Circle is not a partner.
What to watch
The central question is whether committed capital converts into actual circulation. Tempo’s progression toward its stated $1 billion liquidity goal offers one concrete gauge, and Aave Labs has filed a proposal to list OUSD as a supply-and-borrow asset on Aave V3 Core and V4 Core Hub, though not initially as collateral. Coinbase’s support begins Oct. 1.
Reference: News.bitcoin. This article is not financial advice, and cryptocurrency markets are volatile and uncertain.
Reported by news.bitcoin.com.
Source: Bitcoin.com News
