Current outcome
Open USD (OUSD) is live with native issuance on Tempo, Base, Ethereum, and Solana, backed by more than 200 partner organizations; post-launch circulation is about 468 million tokens with over $400 million in on-chain liquidity. Stripe is set to distribute OUSD through its payments stack, Coinbase begins supporting the network on Oct. 1, and additional Mastercard distribution through BVNK is planned.
Progress timeline
2 material updates- #01
Open USD takes on Tether, Circle with a different stablecoin model that's 'building money'
Open USD, the stablecoin backed by founding partners Coinbase, Mastercard, Shopify, Stripe and Visa, went live on Ethereum, Solana, Base and Tempo as part of Open Standard's bid to compete with USDT and USDC in payments, banking and institutional settlement, with most company equity to be distributed to partners based on growth contribution.
Source evidence: CoinDesk
- #02
Open USD bets Stripe’s $1.9 trillion network can break USDT and USDC’s grip
Open USD disclosed post-launch metrics: about 468 million tokens outstanding, over $400 million in on-chain liquidity, and about $468.45 million in reserves ($257.2 million cash and $211.2 million in Treasuries/short-duration money-market funds). Stripe is partnering with Open Standard to distribute OUSD through Stripe Treasury, Global Payouts, Payments, and stablecoin-backed card products; Coinbase starts supporting the network Oct. 1, and additional Mastercard distribution through BVNK is planned.
State after update: Open USD (OUSD) is live with native issuance on Tempo, Base, Ethereum, and Solana, backed by more than 200 partner organizations; post-launch circulation is about 468 million tokens with over $400 million in on-chain liquidity. Stripe is set to distribute OUSD through its payments stack, Coinbase begins supporting the network on Oct. 1, and additional Mastercard distribution through BVNK is planned.
Source evidence: CryptoSlate