Key Highlights
- Open Standard has launched its U.S. dollar-pegged stablecoin, Open USD (OUSD).
- Bridge, a Stripe company, issues OUSD, while reserves are held at BlackRock, Lead Bank, and BNY.
- OUSD is initially available on Base, Ethereum, Solana, and Tempo.
Open Standard has launched Open USD (OUSD), adding another dollar-pegged stablecoin to the market with an initial presence across four blockchain networks.
According to an announcement published on September 30, OUSD is designed for business use cases including payments, settlement, foreign exchange, and institutional trading.
The stablecoin is issued by Bridge, the stablecoin infrastructure company acquired by Stripe. Open Standard said OUSD’s reserves are held at BlackRock, Lead Bank, and BNY, with monthly reserve attestations planned.
OUSD goes live across four networks
OUSD is being issued natively on Base, Ethereum, Solana, and Tempo. The stablecoin is also accessible through platforms including Coinbase, Kraken, and Uniswap. For supported business integrations, Open Standard said OUSD can be minted and redeemed at a 1:1 rate against the U.S. dollar.
The company has identified cross-border payments, settlement, foreign exchange, trading, wallets, and card infrastructure as potential applications.
However, the launch announcement did not disclose the amount of OUSD initially issued or provide transaction-volume figures. Those metrics will provide a clearer indication of activity as distribution expands.
Bridge handles issuance
Bridge is responsible for issuing OUSD under the arrangement. Open Standard said the stablecoin’s reserves are held with BlackRock, Lead Bank and BNY and that monthly attestations will be published.
The announcement did not provide a detailed breakdown of the reserve composition or the initial reserve value. Those details will become relevant as OUSD’s circulating supply develops and businesses begin using the stablecoin for payments and settlement.
Coinbase integration starts October 1
Open Standard said businesses can initially access OUSD through BVNK, Stripe, and the Visa Stablecoin Platform. Its integration with Coinbase is scheduled to begin on October 1.
The company said these connections will provide businesses with access to OUSD without requiring them to build separate infrastructure for issuing, transferring, or redeeming the stablecoin.
The extent of usage through these platforms will depend on individual integrations and business adoption.
OUSD builds on earlier Dunamu-Visa initiative
OUSD also follows an August partnership between Dunamu, the operator of South Korean crypto exchange Upbit, and Visa.
The companies said they would explore stablecoin payments, international remittances, and AI-related financial services, with OUSD-based applications among the potential use cases discussed.
That announcement did not establish a live OUSD payment product. The extent to which the stablecoin will be used in the initiative remains dependent on future implementation.
Open Standard expands its partner network
Open Standard first announced OUSD with more than 140 participating businesses in June. The company has since said its network has grown to more than 200 financial institutions, fintech companies, banks, and other businesses.
Open Standard has also described a revenue-sharing model for participating partners. Under the arrangement, businesses involved in distributing OUSD or generating activity through their platforms may receive rewards linked to supply and usage.
Some participating partners may also receive equity, according to the company.
The financial impact of these arrangements will depend on OUSD issuance and the amount of activity generated through participating platforms.
OUSD enters a crowded stablecoin market
OUSD enters a market dominated by established dollar-pegged assets such as USDT and USDC. Its initial distribution combines native issuance across multiple networks with integrations involving payments, trading, and financial infrastructure providers.
Several major companies are involved in different parts of the OUSD ecosystem, but those relationships do not by themselves indicate the scale of future adoption.
The key metrics to watch include OUSD’s circulating supply, transaction volume, reserve attestations, and active business usage.
For now, OUSD has moved from a proposed stablecoin to a live asset available across Base, Ethereum, Solana, and Tempo. Its position in the broader stablecoin market will depend on how much supply is issued and how extensively businesses use it.
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