Open Standard launches Open USD (OUSD), a stablecoin backed by Coinbase, Mastercard, Stripe, and Visa, designed to distribute ownership and economics across partners rather than concentrating them with a single issuer. The stablecoin entered a market dominated by Tether's USDT ($143 billion) and Circle's USDC ($74 billion), competing through a partnership model that rewards companies for driving supply and activity.
Coinbase, Visa, Mastercard, Shopify, and Stripe became founding partners of Open Standard, each receiving equal initial equity stakes. The five companies committed to investing over $1 billion to establish liquidity for OUSD, with plans to expand the founding partner group to 10-12 members and integrate with over 200 partners.
Major financial firms including Visa, Stripe, Shopify, Coinbase, and Mastercard launched Open USD (OUSD), a new crypto stablecoin backed by $1 billion in liquidity across Solana, Base, Ethereum, and Tempo. The announcement sparked active discussion on X about Solana ecosystem developments, including new applications for payments, gaming, and prediction markets.