Open Standard's OUSD Stablecoin Surges to $666.3 Million Market Cap

OUSD, the stablecoin from Open Standard, has made a significant splash in the market with a market cap of $666.3 million and $2.6 billion in transfer volume across multiple blockchains. Launched on September 30, 2026, the token has already gained traction with its unique zero-fee pitch, making it an attractive option for businesses. The stablecoin runs natively on Ethereum, Solana, Base, and Tempo, and has been listed on major exchanges like Coinbase, Kraken, and Uniswap.

The project's founders, including Coinbase, Mastercard, Shopify, Stripe, and Visa, have committed more than $1 billion to initial liquidity, with the current market cap still below that commitment. This leaves room for supply to grow as the backing gets put to work. The token is issued by Bridge, the stablecoin infrastructure company acquired by Stripe in 2024, and reserves are held with BlackRock, Lead Bank, and BNY.

OUSD's main selling point is its cost-effectiveness, allowing companies to mint and redeem the stablecoin without fees through integrations with Stripe and Visa. After a management fee, most of the earnings generated by OUSD's reserves are distributed to the partners based on how much usage each one drives.