Open Standard, a consortium backed by more than 100 companies, has launched OUSD, a stablecoin pegged to the U.S. dollar. Founding partners Visa, Stripe, Mastercard and Coinbase will provide businesses and developers with initial access to the stablecoin.
OUSD is live on Ethereum, Solana, Base and Tempo. The project aims to challenge Tether and USDC with a compliant digital dollar designed for broad adoption, including in cross-border payments.
The consortium has reportedly committed to minting approximately $1 billion worth of OUSD to provide liquidity at launch.