Coinbase and Big Firms Back Open Standard's Decentralized Stablecoin
Open Standard, a company behind OUSD (a decentralized stablecoin), has announced its founding partners. The five companies are Coinbase, Visa, Mastercard, Shopify, and Stripe. Each of these companies has invested in Open Standard and holds the same percentage of initial shares.
The daily operations of Open Standard are handled by its management team. A smaller group of founding partners have ownership and governance rights, while other partners receive rewards based on their contribution to OUSD's supply and trading activity.
Abrams, CEO of Open Standard, expects the number of founding partners to grow to around 10-12 in the future. He plans to establish a board of directors composed of these founding partners.
The number of partners planning to integrate OUSD has increased from over 140 in June to over 200 now. SBI Holdings, UBS, and Jeeves are among the latest additions.