Crypto
Open Standard Unveils Open USD, a Bank- and Tech
A consortium of over 140 financial and technology companies, including Visa, Mastercard, Stripe, BlackRock, and Coinbase, has introduced Open USD (OUSD).
Key takeaways
- Open USD's reserve earnings and governance will flow to adopting businesses rather than a single issuer.
- Businesses can mint and redeem OUSD at no cost and with no volume caps.
- OUSD's reserves will be maintained at major financial institutions in compliance with US regulatory requirements.
- The specific custodians, attestation cadence, and regulated entity behind issuance remain undisclosed.
A consortium of over 140 financial and technology companies, including Visa, Mastercard, Stripe, BlackRock, and Coinbase, has introduced Open USD (OUSD). Operated by an independent company called Open Standard and led by founding CEO Zach Abrams, the dollar-backed stablecoin will share nearly all of its reserve earnings with the businesses that adopt it. The token is scheduled to launch natively on Solana in 2026, though specific reserve custodians and additional blockchain networks have not yet been disclosed.
By the numbers
- 140+
- Financial and technology companies in the consortium
How it unfolded
- Consortium introduces Open USD stablecoin
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Common questions
- What happened with Open USD?
- Open USD's reserve earnings and governance will flow to adopting businesses rather than a single issuer.
- Where can I read the original report?
- Read the full report at the_defiant.
