Stripe's Open USD Stablecoin Goes Live, Distributes Reserve Income to Partners

Open USD, Stripe's default stablecoin, went live on September 30th and distributes its reserve income to partners that distribute it. The interest earned is paid on OUSD balances held by businesses with Stripe, and finance platform Ramp plans accounts where users can hold OUSD and earn rewards.

According to Open Standard, the company behind the coin, partners receive 'all of the earnings' on reserves, less a small management fee, in proportion to their balances and activity. This is different from Circle's USDC, which handed 62% of its reserve income to distributors in the first half of 2026.

The Open USD reserves are held by Bridge, which was acquired by Stripe in 2025. The funds are split between Treasury bills (75%), money market funds, and cash. Minting and redeeming OUSD is free.