OUSD, a new Stripe-issued stablecoin, is live across four chains.
Open USD (OUSD), a dollar stablecoin issued by Stripe-owned Bridge and run by the independent Open Standard, went live today on Ethereum, Base, Solana, and Stripe’s Tempo chain.
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What’s the Scoop?
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The 101: Rather than Open Standard keeping the reserve yield, almost all of it goes to the companies that distribute OUSD. Additionally, OUSD always mints and redeems 1:1 against the dollar, with zero fees regardless of size. BlackRock, BNY, and Lead Bank handle reserves, and monthly attestations are promised.
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Main rails: Integrations run through Stripe, Visa, Mastercard (via BVNK), and Coinbase, whose support kicks in Oct. 1st. Kraken and Uniswap round out the day-one trading venues.
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A big coalition: Open Standard counts among its ranks +200 partners, from AmEx and UBS to Shopify and Western Union. Each earns based on the OUSD it puts into circulation, plus a shot at equity in Open Standard.
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DeFi lined up: Sentora’s fresh Aave V4 proposal already lists OUSD as a borrowable asset next to RLUSD and PYUSD.
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Big picture: Tether got rich keeping its float, and Circle pays Coinbase dearly for reach. In contrast, OUSD makes the payout the product, and if this model sticks, the stablecoin wars will likely turn into a bidding war for distribution.
William M. Peaster
1059 posts
William M. Peaster, Senior Writer, has been with Bankless since January 2021. Immersed in Ethereum since 2017, he covers the onchain frontier with a particular interest in art, games, and other culture apps. He has a background in creative writing and writes fiction in his free time.
