Open USD

Open USD (OUSD) is a US dollar stablecoin operated by Open Standard, an independent company. Open Standard announced Open USD on June 30, 2026, and OUSD went live on September 30, 2026. The token is natively issued on Ethereum, Base, Solana and Tempo. Use cases include banking, cross-border payments, settlement and institutional trading. Open Standard's position is that stablecoins make money movement faster and cheaper, but that businesses face obstacles with existing stablecoins: high fees to mint and redeem at larger volumes, limited access to the revenue earned on reserves, and little influence over the issuer's roadmap. OUSD is structured to address each of these points.

Minting and redemption

Businesses can mint and redeem OUSD at no cost and with no artificial limits on volume. OUSD is issued through Bridge, a stablecoin issuance platform, which publishes live supply and reserve data for OUSD at reserves.bridge.xyz/ousd. At launch, that page showed reserve assets equal to 100% of the tokens in circulation.

Reserves

OUSD is backed by US dollar reserve assets. According to Open Standard, reserves are maintained at major financial institutions in compliance with US regulatory requirements.

Economics

Partners receive the earnings generated by OUSD's reserves, less a small management fee that covers Open Standard's operating costs. Open Standard describes this as sharing nearly all reserve revenue with the companies that grow OUSD adoption. Once OUSD is live, founders and participating partners can also earn equity in Open Standard based on the OUSD supply and activity they drive on their platforms.

Governance

Open Standard will be governed by a board of directors drawn from its founders and representing its shareholders. The structure is intended to give the partners that drive the most adoption a meaningful role in the company's direction, rather than concentrating control in a single entity.

Founding partners and team

Coinbase, Mastercard, Shopify, Stripe and Visa are the initial founding partners of Open Standard. Each is investing in the company and helping establish OUSD supply, with more than $1 billion in near-term launch liquidity. Zach Abrams is Open Standard's full-time Chief Executive Officer. He previously led product teams at Square, Coinbase and Brex and founded Bridge.

Partners

More than 140 businesses signed up to use Open USD at its announcement, spanning payment networks, banks, asset managers, fintech companies, commerce platforms and crypto infrastructure providers. Named partners include Visa, Mastercard, Stripe, American Express, Adyen, Fiserv, BlackRock, BNY, Standard Chartered, Google, Shopify, DoorDash, Coinbase, OKX, Crypto.com and Fireblocks. More information is available at joinopenstandard.com.