Chainlink Powers New Open USD Stablecoin on Four Major Blockchains

Open Standard has launched its new stablecoin, OUSD, on four major blockchains: Base, Ethereum, Solana, and Tempo. The launch was made possible by Chainlink, which has been named the official data oracle for OUSD. This means that Chainlink will provide the necessary data feeds to support the stablecoin's operations.

The OUSD stablecoin has been designed to be used in conjunction with U.S. dollars, with businesses able to mint and burn OUSD one-to-one with USD through four supported integration providers. The reserves for OUSD are held at BlackRock, Lead Bank, and BNY, with monthly attestations to be published through Bridge.

Chainlink's role in the OUSD ecosystem is significant, as it will provide the necessary data feeds to support the stablecoin's operations. This includes price feeds, which will be used to determine the value of OUSD in relation to USD. The OUSD will also be integrated with the Aave lending platform, with Aave Labs proposing the addition of OUSD to Aave V3 on Ethereum and the Aave V4 Core Hub.