Over 140 Firms Back Open USD Stablecoin Launching on Ethereum
A new institutional-focused stablecoin called Open USD (OUSD) is launching on Ethereum, backed by over 140 companies including Visa, Mastercard, and BlackRock.
The consortium behind OUSD, known as Open Standard, aims to provide a robust backing and decentralized governance structure for the stablecoin.
OUSD intends to differentiate itself from established stablecoins like USDT and USDC through its revenue-sharing model, which distributes earnings to ecosystem partners across its network.