Coinbase-Backed OUSD Stablecoin Goes Live On Ethereum, Solana, Base
Highlights
- Open Standard's OUSD stablecoin has officially launched.
- The stablecoin is available on Ethereum, Solana, Base, and Tempo.
- The stablecoin will be available on exchanges such as Coinbase, Kraken, and Uniswap.
Open Standard’s OUSD stablecoin has officially launched, backed by firms such as Coinbase, Stripe, Mastercard, and Visa. The stablecoin is available across four networks, including Ethereum and Solana. It also launched on exchanges such as Coinbase, Kraken, and Uniswap.
OUSD Stablecoin Goes Live Across Four Networks
In a blog post, Open Standard announced that its stablecoin is now live, with the platform offering four integration paths through Coinbase, Stripe, Mastercard, and Visa. “All paths support mint and burn functionality at a 1:1 USD conversion rate, at no cost,” the post read.
The official launch of the OUSD stablecoin comes three months after Open Standard first unveiled it, backed by financial firms such as Coinbase, BlackRock, Ripple, among others. The stablecoin notably creates a collaborative governance system in which partners get to share earnings from its reserves.
Meanwhile, the OUSD stablecoin is supported natively on Ethereum, Solana, Base, and Tempo. It will also be available across exchanges starting with Coinbase, Kraken, and Uniswap, with plans to add other exchanges over time.
Bridge is the stablecoin’s issuer, while BlackRock, Lead Bank, and BNY hold the stablecoin’s reserves. Open Standard confirmed that it plans to release monthly attestations of the stablecoin’s reserves.
Commenting on the OUSD stablecoin launch, Open Standard CEO Zach Abrams said, “Stablecoins should be better money. Today, they fall short. OUSD is built to change that.” The Bridge co-founder recently left Stripe to become Open Standard’s full-time CEO.
OUSD is set to compete with existing stablecoins such as Circle’s USDC, Ripple’s RLUSD, and Tether’s USAT. It is worth noting that Circle’s stock fell on the day Open Standard first unveiled the stablecoin.
The CRCL stock is down again today as Circle now faces increased competition in the stablecoin market. The stock is currently trading at around $83, down over 1% today and 9% in the last five days.
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