Visa, Mastercard, Stripe, and Coinbase launch new dollar stablecoin OUSD

A new dollar-pegged stablecoin, Open USD (OUSD), has officially launched for international payments, transfers, and other financial operations. The project is being developed by Open Standard, a company founded by Coinbase, Mastercard, Shopify, Stripe, and Visa.

OUSD went live on September 30. Businesses can already integrate it through Stripe, Mastercard, and the Visa Stablecoin Platform, with access via Coinbase starting on October 1. In total, over 200 financial institutions, fintech companies, banks, and other partners have joined the Open Standard network.

The stablecoin is issued by Bridge, a company owned by Stripe. OUSD is available from day one on four blockchains — Base, Ethereum, Solana, and Tempo. Companies can convert dollars to OUSD and back at a one-to-one ratio without a separate issuance or redemption fee.

Open Standard positions OUSD primarily as a tool for businesses, not just a cryptocurrency asset. Planned use cases include international settlements, payroll for employees and contractors, digital wallets, card products, foreign exchange, and interbank clearing.

One of the main distribution channels for OUSD involves Stripe. The company integrated the stablecoin into its payment infrastructure: customers will be able to receive, hold, send, and spend OUSD through Stripe Treasury, use it for global payouts, and accept payments. OUSD on the Tempo network is now the default stablecoin configuration for Stripe, though customers can continue to use other digital currencies and blockchains.

A distinctive feature of the Open Standard model is a rewards program for companies that help distribute OUSD. Partners can earn a share of revenue tied to the stablecoin's reserves and network activity. In this way, the project aims to incentivize payment services, banks, and fintech firms to directly promote OUSD to their customers.

OUSD itself was announced back in late June, but at that time the focus was on preparing the new system. The launch on September 30 marks the project's transition to real-world use through the payment infrastructure of its largest partners.

Sources: Open Standard, Stripe, Bridge