Open Standard announced the launch of the stablecoin Open USD (OUSD) for banks, fintech companies, and developers.
OUSD is issued by Bridge, owned by Stripe. Reserves are held at BlackRock, BNY, and Lead Bank, and reserve confirmations will be published monthly.
The stablecoin is already being integrated via Mastercard, Stripe, and the Visa Stablecoin Platform, and Coinbase support will be available starting October 1. OUSD issuance and redemption are available at a 1:1 exchange rate to the dollar with no fees.
OUSD will operate on Ethereum, Base, Solana, and Tempo networks, and among the first platforms supporting the token are Coinbase, Kraken, and Uniswap.
Open Standard positions OUSD as an infrastructure for cross-border payments, banking services, trading, settlements, cards, and wallets. More than 200 financial companies, banks, and fintech projects have already joined the initiative.
