Open USD (OUSD) is a US dollar stablecoin governed and operated by Open Standard, an independent company. It launched on September 30, 2026, on Base, Ethereum, Solana, and Tempo. Bridge, the
Open USD (OUSD) is a US dollar stablecoin governed and operated by Open Standard, an independent company. It launched on September 30, 2026, on Base, Ethereum, Solana, and Tempo. Bridge, the Stripe-owned stablecoin company, issues OUSD. Its five founding partners, Coinbase, Mastercard, Shopify, Stripe, and Visa, have committed more than $1 billion to build liquidity.
A stablecoin is a crypto token designed to hold a steady value, in this case $1. OUSD follows that model, but its ownership structure is different.
OUSD is a partner-governed stablecoin designed as open infrastructure. Open Standard's network includes more than 200 financial institutions, fintech companies, banks, and global businesses. Bridge co-founder Zach Abrams is Open Standard's full-time CEO.
The issuer and reserves break down like this:
OUSD works through mint and burn. Minting creates new tokens when dollars come in, and burning destroys tokens when dollars go out.
Businesses can mint and redeem OUSD 1:1 with the US dollar, with no mint or burn fees. There are four access routes:
On Stripe, businesses can hold OUSD in Treasury, spend it with stablecoin cards through Issuing, and send it to wallets in more than 100 countries. Finance platform Ramp plans to offer Stripe-powered accounts that hold OUSD and earn rewards.
With most stablecoins, the issuer keeps most of the economics, mainly the yield earned on reserves, and distribution partners negotiate for a share. Open Standard's design spreads that value instead.
Reserve earnings can go to participating partners after management fees. Partners must join Open Standard to earn rewards tied to OUSD activity on their platforms.
The five founding partners each took an equal initial equity stake, and founders and network partners may earn further equity based on the OUSD supply and activity they generate. Founding partners receive no separate preferred share of revenue.
Two partnerships announced at launch extend OUSD beyond payments.
An oracle delivers outside data, such as asset prices, to smart contracts. Open Standard has standardized on Chainlink as an official data oracle for OUSD, supporting uses such as lending, trading, margin products, and yield vaults.
Aave Labs has proposed adding OUSD to Aave V3 on Ethereum and the Aave V4 Core Hub. OUSD would first be a supply and borrow asset, with collateral use disabled. The oracle setup is pending until Chainlink feeds go live.
Pi Network announced a partnership with Open Standard on launch day. Pi said it will explore rewards programs for Pioneers, its name for users, and broader OUSD utility across its ecosystem.
Open Standard lists Coinbase, Kraken, and Uniswap as OUSD's first trading venues, with more planned. OUSD is designed to hold $1.
Check contract addresses carefully. OUSD shares its ticker with Origin Dollar, an unrelated stablecoin launched in September 2020, and several copycat tokens use the Open USD name. Use the addresses on Open Standard's launch page before buying or sending OUSD.
OUSD enters a market worth more than $300 billion, still led by Tether's USDT and Circle's USDC. A Yahoo Finance report noted that OUSD's partners also back other stablecoins, so it must compete for placement even within its own coalition.
OUSD is a dollar stablecoin issued by Bridge, with reserves held at BlackRock, Lead Bank, and BNY. It is live on Base, Ethereum, Solana, and Tempo. Businesses can mint and redeem it 1:1 with no fees through Stripe, Mastercard, Visa, and Coinbase. Chainlink is its official oracle, and Pi Network has agreed to explore OUSD rewards for its users.
