Open Standard Launches Dollar-Pegged Stablecoin OUSD with Over $100M in Initial Liquidity

Open Standard launched its dollar-pegged stablecoin OUSD on September 30th. The company has partnered with several major players in the financial sector, including Stripe, Mastercard, Visa, and Coinbase. These companies will provide integration paths for businesses to issue and settle OUSD at a 1:1 USD conversion rate.

OUSD is designed to be used globally for payment and remittance purposes. It has no issuance or redemption fees and returns revenue from its reserve assets to participating companies. The stablecoin is available on four blockchain platforms: Ethereum, Base, Solana, and Tempo.

According to Open Standard, the five founding partners have committed to providing over $100 million in initial liquidity for OUSD. This includes a contribution from Bridge, a subsidiary of Stripe, which will handle the issuance of OUSD. The reserve assets backing OUSD are held by BlackRock, Lead Bank, and BNY.

Open Standard plans to publish monthly reports on its reserve assets and has announced a governance structure that allows participating companies to vote on major decisions. In addition, users can access OUSD through various platforms, including Coinbase, Kraken, and Uniswap.