Open Standard introduced its Open USD (OUSD) stablecoin to the market on Wednesday, making the dollar-pegged token available across Ethereum, Solana, Coinbase’s Base network and the Stripe-backed Tempo chain. The token is designed to maintain a one-to-one value with the U.S. dollar, supported by reserves held at full parity.

Bridge, a company owned by Stripe, serves as the issuer. Reserves are held by BlackRock, Lead Bank and BNY Mellon. Open Standard has stated it will publish monthly attestations of those reserves. Minting and redemption occur at a 1:1 rate with no fees, a feature available through integration paths with Coinbase, Stripe, Mastercard and Visa platforms.

Founding Partners Commit More Than $1 Billion in Liquidity Support

Five founding partners—Coinbase, Mastercard, Shopify, Stripe and Visa—have pledged more than $1 billion in liquidity commitments to support the stablecoin. These firms hold equal initial equity stakes in Open Standard. The commitments involve activities such as holding OUSD on balance sheets, keeping tokens on-chain or supporting market-making, according to the company’s description of the arrangements.

At launch, the token carried an initial backing of approximately $18 million. The larger liquidity pledges are expected to be deployed over coming months as the partners contribute according to their respective business models. Coinbase plans to begin supporting OUSD on its platform on October 1. The token is also set to appear on exchanges including Kraken and Uniswap, with additional venues planned over time.

Zach Abrams, who co-founded Bridge and recently left Stripe to serve as full-time chief executive of Open Standard, described the model as one that ties rewards and ownership to the supply of OUSD generated and the growth of network activity. Partners meeting minimum thresholds can earn equity based on a combination of supply creation and transaction volume. Abrams said the overwhelming majority of the company’s equity will be distributed over the next four to five years to founders and other participants according to their contributions.

Open Standard indicated it plans to expand the founding group to roughly 10 to 12 companies, with a board drawn from among them. The broader network of businesses seeking to integrate OUSD has grown past 200, up from more than 140 earlier in the year. Recent additions include Japan’s SBI Holdings, Swiss bank UBS and fintech firm Jeeves. BlackRock, BNY and Standard Chartered were among those listed in the initial network announcement.

Shared Reserve Earnings and Partner Governance

Unlike many existing stablecoins that retain the bulk of interest earned on reserves, OUSD is structured so that nearly all reserve revenue, after operating costs, is shared with companies that help expand adoption. Governance includes input from participating partners rather than resting solely with a single issuer.

Securitize has joined the OUSD network as a Network Partner. The firm manages more than $4 billion in tokenized assets as of mid-2026 and has tokenized funds for BlackRock and Apollo. The partnership is intended to support on-chain settlement between tokenized assets and the stablecoin, reducing reliance on traditional banking rails for institutional transfers.

Open Standard has stated that it operates under regulatory standards applicable to stablecoins and financial products. The launch positions OUSD in a market where Tether’s USDT and Circle’s USDC hold the largest shares, with the new token also competing against offerings such as Ripple’s RLUSD.

Integration options through major payment networks and the absence of minting or redemption fees are presented as features aimed at businesses moving large volumes between traditional dollars and on-chain assets. Tempo’s chief business officer has projected substantial OUSD balances on that network in coming years, though those figures represent expectations rather than balances confirmed at launch.

The token is now live for use across the four initial blockchains, with distribution expanding through exchange listings and partner platforms in the days ahead.