Coinbase Enables Transfers of Open USD Across Four Networks
Coinbase has enabled transfers of Open USD (OUSD) across four networks: Base, Ethereum, Solana, and Tempo. This feature is now live in supported regions.
The integration allows users to send and receive OUSD on Coinbase, hold the token, and transfer it to outside wallets on whichever network suits them best. As a founding partner of OUSD, alongside Mastercard, Shopify, Stripe, and Visa, Coinbase has a direct stake in the stablecoin's success.
The consortium behind OUSD, known as Open Standard, is betting that shared governance and economics will appeal to businesses looking for an alternative to incumbent dollar-pegged tokens like USDT and USDC. The goal is to position OUSD for cross-border payments and institutional trading through its adoption plan, which focuses on bringing in over 200 partner companies.
The launch of OUSD has seen significant liquidity committed by the founding partners, with over $1 billion pledged. Stripe's Layer 1 network, Tempo, added OUSD with an initial $400 million in liquidity. Businesses can mint and redeem OUSD at a 1:1 ratio with the dollar, fee-free and with no volume limits.