Key facts
- Open Standard's OUSD stablecoin has officially launched.
- The stablecoin is backed by firms including Coinbase, Stripe, Mastercard, and Visa.
- OUSD is available on Ethereum, Solana, Base, and Tempo networks.
- It is listed on exchanges such as Coinbase, Kraken, and Uniswap.
- Bridge is the issuer of the OUSD stablecoin.
- BlackRock, Lead Bank, and BNY hold the stablecoin's reserves.
Open Standard's OUSD stablecoin has officially launched, aiming to offer improved functionality compared to existing stablecoins. The stablecoin is backed by major financial firms including Coinbase, Stripe, Mastercard, and Visa, and is available on the Ethereum, Solana, Base, and Tempo networks. It has also been listed on exchanges such as Coinbase, Kraken, and Uniswap.
Bridge is the issuer of the OUSD stablecoin, with BlackRock, Lead Bank, and BNY holding its reserves. Open Standard plans to release monthly attestations of these reserves. The platform offers mint and burn functionality at a 1:1 USD conversion rate at no cost.
Open Standard CEO Zach Abrams stated that OUSD is built to address the shortcomings of current stablecoins. The launch comes three months after the initial unveiling, and it is positioned to compete with established stablecoins like Circle's USDC, Ripple's RLUSD, and Tether's USAT. Circle's stock has seen a decline amid increased competition in the stablecoin market.