Crypto
Open Standard Launches OUSD Stablecoin with Unique Economic Model
Open Standard, backed by Coinbase and Mastercard, has launched its dollar stablecoin OUSD. The new issuer wants to spread economics and ownership across companies that distribute and use it.
OUSD went live on Ethereum, Solana, Coinbase's Base, and Stripe-backed Tempo blockchains. Open Standard CEO Zach Abrams said they aim to be the most useful stablecoin like the US dollar.
Abrams compared OUSD to other stablecoins, saying 'Every other stablecoin is building a fund. We're building money.' The market is worth over $300 billion and dominated by Tether's USDT and Circle's USDC.