Chainlink Powers Open Standard's New Stablecoin, Launching on Four Blockchains
Open Standard has launched its new stablecoin, OUSD (Open USD), on four major blockchain networks - Base, Ethereum, Solana, and Tempo. The launch comes with significant backing from five founding partners, including Coinbase, Mastercard, Stripe, Visa, and Shopify.
The OUSD stablecoin is supported by Chainlink as an official data oracle, which will provide external information to the blockchain applications for smart contracts to execute transactions accurately. This partnership aims to support various financial applications, such as lending markets, decentralized exchanges, and other on-chain finance tools.
Open Standard has secured over $1 billion in launch liquidity from its founding partners and has established a reserve system with BlackRock, Lead Bank, and BNY. The company plans to publish monthly reserve attestations through Bridge Building Inc., a Stripe-owned firm.
The OUSD stablecoin can be accessed through various integration routes, including Coinbase, Mastercard, Stripe, and Visa. Each partner offers distinct services, such as payment orchestration, wallets, cards, foreign exchange, and fiat on- and off-ramps.