Visa and Mastercard Join More Than $1 Billion in OUSD Commitments
Open USD launched Sept. 30 across Ethereum, Base, Solana and Tempo, with businesses able to mint and redeem the token at 1:1 without fees.
Open Standard launched Open USD (OUSD) on Sept. 30 with more than $1 billion in near-term launch liquidity commitments from Coinbase, Mastercard, Shopify, Stripe and Visa, putting major payments companies behind a new dollar-token network.
OUSD is live natively on Ethereum, Base, Solana and Tempo, without bridged versions. Bridge, a Stripe company, issues the token, which is designed to maintain a 1:1 value with the U.S. dollar and is backed by reserves held at BlackRock, Lead Bank and BNY.
Businesses that complete know-your-business checks can mint and redeem OUSD at a 1:1 ratio without fees. Open Standard says participating partners receive most reserve income, after a small management fee.
Initial access is available through Stripe, Mastercard’s BVNK and Visa’s stablecoin platform. Coinbase support is scheduled to begin Oct. 1, while Coinbase, Kraken and Uniswap are listed as initial exchange venues.
The project was introduced in June with more than 140 participating businesses and has since expanded to more than 200 companies, including financial institutions, fintechs and banks.
