OUSD: A New Stablecoin Model that Could Disrupt Circle's Monopoly
On June 30, 2026, Open Standard announced the launch of its stablecoin, OUSD. The company's founder, Zach Abrams, co-founded Bridge, which was acquired by Stripe for $1.1 billion.
The announcement did not involve a traditional product launch but rather an incentive change. Unlike other stablecoins such as USDT and USDC, where the company holding the dollar keeps all the interest earned from US Treasury bills, OUSD flips this model. The interest flows back to the partners who move the token, minus a management fee.
This change in payment structure makes every partner of OUSD have a reason to make money from the token. For example, Visa makes money when the token moves through its rails, Stripe makes money when merchants adopt it, and Coinbase makes money when users trade it.
Circle stock dropped 17.5% on the same day due to this change in payment structure. Circle already pays for distribution, having paid Coinbase $907.9 million in 2024 to list USDC. OUSD removes the negotiation between companies, making the payment automatic and giving every partner a cut.