Crypto
$1 Billion Stablecoin Launch Challenges USDT and USDC Dominance
The Open Standard's OUSD stablecoin has launched with over $1 billion in liquidity, backed by major players like Coinbase, Mastercard, Shopify, Stripe, and Visa.
OUSD allows businesses to mint and redeem the token at par without fees or volume caps, while partners receive most of the reserve income. This flips a traditional stablecoin business model where issuers typically keep the income generated by the float.
The project aims to become the most useful stablecoin, with each network having a native version on Ethereum, Base, Solana, and Tempo. Access initially runs through Stripe, Mastercard-owned BVNK, and the Visa Stablecoin Platform, with Coinbase support beginning on October 1st.