Open USD launches across four networks with $1B commitment

Open Standard launched its Open USD stablecoin, or OUSD, on Ethereum, Solana, Base and Tempo on September 30, with five founding partners committing more than $1 billion toward liquidity support. Coinbase, Mastercard, Shopify, Stripe and Visa each hold an equal initial equity stake in Open Standard, the company behind the token, according to the company’s launch information. The more than $1 billion represents partner commitments, not a confirmed total of OUSD in circulation. Launch reports give figures with different scopes: Tempo said it had more than $400 million in OUSD liquidity on the first day, while a separate report cited an initial supply of $18 million on Solana. The figures do not establish a single network-wide circulation total. OUSD is designed to be pegged to the U.S. dollar. Open Standard says the partners will support it through measures including holdings, market activity and integration into their platforms. The company has said partners’ future equity rewards will be tied to contributions to the token’s supply and transaction activity. It also says minting and redemption will carry no fees.