Open Standard launches Open USD on four blockchains

Open Standard launched its dollar stablecoin, Open USD (OUSD), on Wednesday, CEO Zach Abrams said. Open Standard had initially unveiled Open USD in June. The stablecoin went live on Ethereum, Solana, Coinbase’s Base and Stripe-backed Tempo blockchains. Coinbase, Mastercard, Stripe and Visa back Open Standard. Open Standard designed its model to spread more of the economic benefits and ownership among companies that distribute and use Open USD, rather than concentrating them with one issuer. Open Standard’s broader partner network has grown from more than 140 to over 200 companies. UBS, Japan’s SBI Holdings and fintech Jeeves are among the latest additions. Abrams said Open Standard wants to make Open USD as useful as the U.S. dollar. Abrams contrasted that goal with other stablecoins, which he characterized as funds. Abrams previously co-founded and led stablecoin infrastructure firm Bridge. Stripe acquired Bridge for $1.1 billion in 2024. Open USD enters a stablecoin market worth more than $300 billion. Tether’s USDT has about $143 billion in circulation, and Circle’s USDC has roughly $74 billion. Banks, payment firms and fintechs are entering the sector. Stablecoin competition increasingly extends to distribution, liquidity and the platforms customers use, not just issuance.