Open USD Launches with $1B in Liquidity Commitments from Five Founding Partners
Open USD has launched on four blockchains with over $1 billion in liquidity commitments from five founding partners, introducing a stablecoin model that ties company rewards and ownership to token supply and use.
Coinbase, Mastercard, Shopify, Stripe, and Visa have committed more than $1 billion to support OUSD liquidity. The companies will help establish liquidity over the coming months through various activities such as holding OUSD on their balance sheets or supporting market-making.
Open Standard's dollar stablecoin has been designed to link partner rewards to supply and transactions. The CEO, Zach Abrams, stated that they want to be 'the most useful stablecoin, the same way the U.S. dollar is useful.'
The company plans to distribute nearly all reserve revenue with companies that help increase adoption. OUSD features include fee-free minting and redemption.