Open Standard has launched Open USD, or OUSD, across four blockchains with Chainlink named an official data oracle and more than $1 billion in launch liquidity committed by five founding partners
Open Standard said on Sept. 30 that OUSD is live on Base, Ethereum, Solana and Tempo, with business access through Stripe, Mastercard, Visa and Coinbase. Each integration route supports 1:1 conversion between U.S. dollars and OUSD without mint or burn fees. Coinbase access was scheduled to begin Oct. 1, while BVNK, Stripe and the Visa Stablecoin Platform were available from launch
Chainlink announced that Open Standard had standardized on its infrastructure as an official data oracle for OUSD. The oracle network said its technology can support uses involving collateral, trading, lending, margin products, automated market maker pools and yield vaults
Open Standard lists OUSD as natively supported on Base, Ethereum, Solana and Tempo. The project’s launch announcement provides separate contract addresses for each network, including Ethereum and Solana deployments
NEW: @openstandard has standardized on Chainlink as an official data oracle for Open USD.Supported by 200+ financial giants like @Stripe, @Mastercard, and @Visa, OUSD brings zero-cost mint/burn mechanics and shared rewards to onchain finance.Open Standard 🤝 Chainlink pic.twitter.com/uDl44DMnKL
Coinbase, Kraken and Uniswap are listed among the first exchange venues expected to support OUSD. Businesses can access the stablecoin through Coinbase, Mastercard, Stripe and Visa, though each partner offers a different set of services
Bridge Building Inc., a Stripe-owned company, currently issues OUSD. Open Standard said reserves are held at BlackRock, Lead Bank and BNY, while monthly reserve attestations are expected to be published through Bridge
Through Stripe and Bridge, businesses can use services covering payment orchestration, wallets, cards, foreign exchange and fiat on- and off-ramps. Mastercard provides an integration route through BVNK, while Visa offers OUSD through the Visa Stablecoin Platform
Coinbase’s integration supports 1:1 conversions, custody, trading, financing and payment services, according to Open Standard’s integration page
Visa describes access through its Stablecoin Platform as being in beta and subject to eligibility, volume and geographic restrictions. Open Standard’s legal material lists the European Economic Area among jurisdictions where network partners may face restrictions on promoting OUSD
Bridge previously secured regulatory approvals in Luxembourg for its European operations. Bridge secured MiCA and electronic money licenses for European expansion
Chainlink’s Sept. 30 announcement described the network as an official data oracle for Open USD
Oracle networks deliver external information to blockchain applications so smart contracts can use data such as asset prices when executing transactions. Lending markets, decentralized exchanges and other financial applications commonly rely on oracle feeds for pricing information
Aave Labs provided more detail on where Chainlink infrastructure could be used when it proposed adding OUSD to Aave V3 on Ethereum and the Aave V4 Core Hub
Under the initial proposal, OUSD would be available as a supply and borrow asset, while collateral use would remain disabled. Aave Labs said collateral support, higher caps and other settings could be considered after the stablecoin builds more onchain liquidity and price history
The proposal listed the oracle configuration as pending and said final risk parameters would be included after recommendations were available and Chainlink feeds entered production
Chainlink’s role with OUSD follows other work involving traditional financial infrastructure. Chainlink connected banks to Swift’s blockchain ledger infrastructure, allowing participating institutions to interact with blockchain-based systems while retaining control of transaction signing
Stripe said OUSD is available through products including Treasury, Issuing, Global Payouts, Crypto Onramp and Payments
On Tempo, Stripe described OUSD as its default stablecoin configuration. Customers can still choose other supported stablecoins and blockchain networks
Stripe said Ramp is expected to use its infrastructure for stablecoin accounts capable of holding OUSD, earning network rewards and making payments. Existing users are not required to convert other stablecoin balances into OUSD
Mastercard said Open USD would be accessible through BVNK. Financial institutions, distributors and enterprises can use BVNK’s infrastructure to interact with OUSD alongside fiat currencies and other stablecoins
Visa has positioned Open USD as an initial supported asset within its Stablecoin Platform. The payments company has separately expanded stablecoin infrastructure with Bridge, including card products linked to digital-dollar balances
As crypto.news previously reported on Visa and Bridge’s stablecoin card expansion, the companies planned to extend stablecoin-backed card programs to more than 100 countries by the end of 2026
Coinbase, Mastercard, Shopify, Stripe and Visa are Open Standard’s five founding partners. Open Standard said on Sept. 24 that the group was investing in the company and helping establish more than $1 billion in near-term liquidity for the OUSD launch
The company named Bridge co-founder Zach Abrams as Open Standard’s full-time chief executive. Open Standard said founders and participating network partners may earn equity based on the OUSD supply and activity generated through their platforms
Its partner network includes more than 200 financial institutions, fintech companies, banks and global businesses, according to Open Standard’s partner information
Securitize later joined the ecosystem as an Open Standard Network Partner and plans to support OUSD access through its tokenization infrastructure
Open Standard’s earlier design document described a model where reserve earnings can be distributed to participating partners after management fees. Current integration materials state that partners must join Open Standard to qualify for rewards linked to OUSD supply and activity generated through their platforms
Bridge received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency to establish Bridge National Trust Bank in New York
The OCC approved the application subject to conditions that must be completed before the bank can begin operations
The regulator’s decision covers proposed activities including stablecoin issuance, digital asset custody, payment orchestration and reserve management. Final authorization remains dependent on Bridge satisfying the OCC’s pre-opening requirements
Bridge clarified in its OUSD announcement that Bridge National Trust Bank remains a separate legal entity in organization and is not operational
