Open Standard Launches OUSD Stablecoin Backed by BlackRock, Visa, Coinbase

Open Standard has unveiled Open USD (OUSD), a stablecoin designed for global payments and settlement, launching with support from more than 140 companies, including Visa, Mastercard, Stripe, BlackRock, Coinbase, BNY, Ripple, Shopify, Google, OKX, Bybit, and Solana.

Unlike traditional stablecoins controlled by a single issuer, OUSD will use a consortium governance model that allows participating partners to take part in governance and share reserve earnings after a management fee.

The stablecoin will also support zero-fee minting and redemption without artificial issuance limits.

Open Standard also named Zach Abrams, co-founder and CEO of Stripe-owned Bridge, as its founding chief executive officer.

Source: Open Standard