Chainlink Backs New OUSD Stablecoin with $1 Billion in Liquidity

Chainlink has partnered with Open Standard to provide data for the new OUSD stablecoin. The stablecoin has over $1 billion in committed short-term reserves and will be available on four blockchains, including Base, Ethereum, Solana, and Tempo. Chainlink's data will be used to integrate OUSD with other markets and products, including lending, margin trading, and automated market maker and yield farming products.

Open Standard's partner network consists of over 200 financial institutions, fintechs, banks, and multinational corporations, including Stripe, Mastercard, Visa, and Coinbase. The stablecoin will be available for use with payment and financial services from these companies. API integrations are available to enable businesses to convert U.S. dollars to and from OUSD at a 1:1 rate, with no fees for minting or redeeming the stablecoin.

Open Standard has secured over $1 billion in initial trading capital and has received support from its founding members, including Coinbase, Mastercard, Shopify, Stripe, and Visa. The company claims that its partner network and initial capital raise will help to make OUSD a widely accepted and trusted stablecoin.