Chainlink Backs New OUSD Stablecoin as $1 Billion Liquidity Push Goes Live Across Four Blockchains
Open Standard launches the OUSD stablecoin with over $1 billion in reserves, featuring Chainlink as an official oracle partner and support from major financial firms like Stripe, Mastercard, Visa, and Coinbase.
Open Standard has launched Open USD (OUSD), a new stablecoin backed by over $1 billion in committed short-term reserves and featuring Chainlink as an official oracle partner. The digital currency rolls out initially across networks including Base, Ethereum, Solana, and Tempo, alongside integrations with payment and financial services provided by leading firms.
Corporate clients can access OUSD through integrations with Stripe, Mastercard, Visa, and Coinbase. Dedicated APIs and supplementary tools allow businesses to convert U.S. dollars into OUSD—and vice versa—at a strict 1:1 ratio, completely free of minting or redemption charges.
BVNK, Stripe, and the Visa Stablecoin Platform are live at launch, while Coinbase integration goes live on October 1. Early trading venues for the stablecoin feature Coinbase, Kraken, and Uniswap.
Bridge Building Inc., a subsidiary of Stripe, currently handles the minting of OUSD. According to Open Standard, the stablecoin’s reserves are maintained by BlackRock, Lead Bank, and BNY, with Bridge issuing monthly reserve attestations.
Stripe and Bridge supply infrastructure for payments and finance, delivering wallet functionality, payment features, and fiat currency on- and off-ramps. Mastercard has teamed up with BVNK, and Visa introduced OUSD via its own Stablecoin Platform, which remains in beta and is accessible to select users in specific regions.
Chainlink acts as an official oracle partner for Open USD, supplying blockchain projects with essential external data, such as market metrics required by smart contracts.
This technology allows OUSD to integrate seamlessly with various external markets and products, including automated market makers, yield farming, lending, and margin trading.
Read More: HSBC Unveils RedCoin Stablecoin Ahead of Major Hong Kong Launch
Aave Labs has outlined a decentralized finance use case for OUSD, proposing support for the stablecoin on the Aave V3 Ethereum platform and Aave V4 Core Hub. Under this proposal, users would be permitted to deposit and borrow OUSD, though it could not be utilized as collateral.
Future enhancements, such as higher loan-to-value limits and improved collateral rules, might be introduced later as more onchain data becomes available. The proposal noted that the oracle design remains unfinished and that additional risk parameters will be established once the community shares feedback and Chainlink production feeds go live.
The five founding members backing Open Standard are Coinbase, Mastercard, Shopify, Stripe, and Visa. They serve as investors and provide strategic backing to help secure more than $1 billion in initial trading capital for the project.
Open Standard reports a partner network comprising over 200 banks, fintechs, financial institutions, and multinational firms. Securitize has also joined the OUSD ecosystem, planning to offer OUSD services through its tokenization platform.
Read More: U.S. Eyes Global Stablecoin Push to Unlock New Treasury Demand
The ecosystem compensates partners based on overall OUSD supply and user activity across their respective platforms. Meanwhile, Bridge has earned preliminary conditional approval from the U.S. Office of the Comptroller of the Currency to establish the Bridge National Trust Bank in New York.
Because the bank does not yet exist, receiving final regulatory clearance depends on fulfilling remaining pre-opening requirements.
