$1B Backing for OpenStandard OUSD Stablecoin Launch
The OpenStandard OUSD stablecoin has launched across Solana, Ethereum, and Base with an initial backing of $18 million. This small starting reserve is backed by a lineup of financial heavyweights that have pledged over $1 billion in liquidity commitments to support the token going forward.
This mismatch between the initial backing and the promised liquidity is part of the story behind OUSD's launch. The stablecoin is issued by Bridge, a company owned by Stripe, with reserves held at BlackRock, Lead Bank, and BNY Mellon - three institutions with deep roots in traditional finance.
The founding partners of OpenStandard, including Coinbase, Visa, Stripe, and others, have committed over $1 billion to support OUSD liquidity. This commitment is a key factor in the company's vision for the stablecoin, as CEO Zach Abrams stated: 'We want to be the most useful stablecoin, the same way the U.S. dollar is useful.'