Visa and Mastercard Back Open Standard's $1B OUSD Commitments

Payments giants Visa and Mastercard are among more than $1 billion in commitments to Open USD (OUSD), a new dollar-token network launched by Open Standard on September 30. OUSD is designed to maintain a 1:1 value with the US dollar, backed by reserves held at BlackRock, Lead Bank, and BNY.

The project has gained significant traction since its introduction in June, with over 200 participating businesses, including financial institutions, fintechs, and banks. Participating partners receive most of the reserve income after a small management fee.

OUSD is live natively on Ethereum, Base, Solana, and Tempo, without bridged versions. Bridge, a Stripe company, issues the token. Businesses can mint and redeem OUSD at a 1:1 ratio without fees once they complete know-your-business checks.