Chainlink Named Oracle for Open USD Stablecoin Amid Record Launch Liquidity

Chainlink (LINK) has been named an official data oracle for Open USD (OUSD), a new stablecoin from Open Standard. The stablecoin went live on September 30 with over $1 billion in launch liquidity committed by five founding partners: Coinbase, Mastercard, Shopify, Stripe, and Visa.

Open Standard said the group is investing in the company and helping set up the near-term liquidity. OUSD is live on Base, Ethereum, Solana, and Tempo, and businesses can mint and burn it one-to-one with U.S. dollars, with no mint or burn fees.

Chainlink's technology can support collateral, trading, lending, margin products, liquidity pools, and yield vaults, according to the network. Oracles feed outside data, such as asset prices, to smart contracts, which lending markets and decentralized exchanges rely on for pricing.

Grayscale bought 629,100 LINK in September, and Bitwise filed to stake 20% of its Chainlink ETF holdings. LINK's weekly structure turned bullish, with the token holding a demand zone just under $14.