Visa-Backed Stablecoin OUSD Launches on Ethereum with Institutional Investors in Mind

The Open USD (OUSD) project, backed by over 140 companies including Visa and BlackRock, is launching its next-generation stablecoin on the Ethereum network. This move aims to make it easier for companies to conduct digital dollar transactions without fees or volume limits.

Open Standard, the company behind OUSD, plans to enable businesses to mint and redeem the stablecoin without any operational management fees. The project's reserve revenue model sets it apart from existing large stablecoin models, as it shares returns with partners after deducting operational costs.

The launch of OUSD on Ethereum is significant in solidifying the platform's position in institutional finance. This is particularly important for institutional investors who rely on the Ethereum network for stablecoins and other applications.