Chainlink Backs New Stablecoin OUSD With Over $1 Billion Committed Reserves

Open Standard has introduced Open USD (OUSD), a new stablecoin with over $1 billion in committed short-term reserves, and Chainlink as an official oracle partner. OUSD is being made available on four blockchains: Base, Ethereum, Solana, and Tempo.

The new stablecoin will integrate with payment and financial services from other leading companies, including Stripe, Mastercard, Visa, and Coinbase. Businesses have access to OUSD via integrations with these companies, allowing them to convert U.S. dollars to and from OUSD at a 1:1 rate with no fees for minting or redeeming the stablecoin.

Bridge Building Inc., a Stripe subsidiary, is minting OUSD, while BlackRock, Lead Bank, and BNY maintain stablecoin reserves for OUSD. Chainlink's technology will be used to integrate OUSD with other markets and products, including lending, margin trading, and automated market maker and yield farming products.

Aave Labs has proposed a use case for OUSD in a decentralized finance application, suggesting that users can deposit and borrow OUSD but not use it as collateral. The proposal states that higher loan-to-value limits and other collateral improvements may be implemented later based on additional on-chain information.