Stablecoin Open USD Launches With $1B Liquidity Commitments
Open USD (OUSD), a new stablecoin backed by major corporations including Coinbase, Mastercard, Shopify, Stripe, and Visa, has officially launched with commitments exceeding $1 billion in liquidity support.
The digital currency operates on four blockchain platforms: Ethereum, Solana, Base, and Tempo. The founding partners have equal ownership positions in Open Standard, the venture behind OUSD.
Open USD aims to become a practical currency for everyday transactions, rather than just a speculative vehicle. According to Chief Executive Zach Abrams, 'We want to be the most useful stablecoin, the same way the U.S. dollar is useful.'
The $300 billion global stablecoin sector is dominated by Tether's USDT and Circle's USDC. Open USD distinguishes itself through its alternative framework for ownership distribution and incentive structures.