Major Tech Firms Unveil OUSD Stablecoin for Global Payments

A new stablecoin, OUSD, has been launched by Open Standard, a group backed by major tech companies like Coinbase, Mastercard, Shopify, Stripe, and Visa. The US dollar-backed stablecoin is designed for enterprise payments and on-chain finance.

Users can convert USD to OUSD for free, with the network relying on small transaction fees instead of minting charges. The reserve yields from cash reserves are shared with network partners, encouraging adoption by rewarding businesses based on their OUSD holdings and processing volume.

OUSD operates on four blockchain networks: Ethereum, Solana, Base, and Tempo. Major platforms like Stripe, Visa's Stablecoin Platform, Mastercard's BVNK, Coinbase, Kraken, and Uniswap also support the stablecoin.