Stripe's $1.9 Trillion Network Backs Open USD Stablecoin

Open USD, a new stablecoin, has launched with $468 million in circulation and a distribution partnership with Stripe, one of the largest payment networks. The token, issued for Open Standard, has 468.4 million tokens outstanding following its Sept. 30 debut. The reserve data shows about $468.45 million of backing assets, split between $257.2 million in cash and $211.2 million in Treasuries and short-duration money-market funds.

OUSD is issued natively on Tempo, Base, Ethereum, and Solana, giving businesses several venues for payments, settlement, and treasury operations. Stripe said it is partnering with Open Standard to make OUSD available across parts of its payments stack. Businesses can hold the token through Stripe Treasury, send it through Global Payouts, accept it with Payments and use it with stablecoin-backed card products, subject to product and geographic availability.

Stripe processed $1.9 trillion in total volume during 2022, up 34% from the previous year and equivalent to roughly $158 billion a month. OUSD's current circulation amounts to less than 0.3% of that monthly figure, illustrating the scale of the network through which Stripe could distribute the token if businesses begin using it for payments and treasury activity.