Open Standard launches OUSD stablecoin backed by Coinbase, Stripe, Visa, and Mastercard
Open USD launched on Sept. 30 across Ethereum, Base, Solana and Tempo, with Coinbase support set to begin Oct. 1. The project is backed by Mastercard, Visa, Stripe and Coinbase, and one report says more than $1 billion in liquidity commitments came from five founding partners. The stablecoin is described as supporting 1:1 minting and redemption, with one piece saying businesses can do that without fees.
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Businesses that use Open USD are the most immediate group affected, because the token is now live across four networks and one report says minting and redemption are available at 1:1 without fees. Coinbase support is set to begin on Oct. 1, so users and counterparties that rely on that platform have a dated change to watch for next.
In practice, the launch makes Open USD available across Base, Ethereum, Solana and Tempo, while another report says the token supports payments, settlement and foreign exchange on those networks. What remains in place is that the token still needs the listed platform support to be used in those channels, even as the network list and launch date are now public.
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