OUSD Stablecoin Launches on Ethereum with Over 140 Company Backing

A new stablecoin called OpenUSD (OUSD) is set to launch on the Ethereum network, backed by a consortium of over 140 companies including global finance and payment firms such as Visa, Mastercard, Stripe, BlackRock, and BNY Mellon.

OUSD is designed with institutional demand in mind, and its coalition structure involves multiple participants from the financial and payment industries. This approach aims to secure credibility and a base of use from the early stage of its launch.

Ethereum was chosen as the platform for OUSD's launch due to its high activity in on-chain financial services such as stablecoin circulation, digital asset payments, and decentralized finance (DeFi). As a result, OUSD is expected to target demand for institutional digital asset payments and financial infrastructure.