The new OUSD token, introduced by Open Standard, is supported by five major financial and technology firms and is designed to simplify international money transfers.
Open Standard has launched OUSD, a new stablecoin backed by a coalition of five heavyweight partners—Coinbase, Mastercard, Shopify, Stripe, and Visa—aimed at streamlining cross‑border payments.
What is OUSD?
OUSD is a digital dollar‑pegged stablecoin that operates on public blockchain networks, offering near‑instant settlement and low transaction fees compared to traditional banking routes.
Founding Partners and Their Roles
- Coinbase provides custodial services and liquidity for the token.
- Mastercard contributes its global payment network to facilitate fiat on‑ramps.
- Shopify integrates OUSD into its merchant checkout for seamless e‑commerce payments.
- Stripe offers developer APIs to embed OUSD in fintech applications.
- Visa enables cross‑border settlement through its extensive card infrastructure.
How OUSD Simplifies International Transfers
By leveraging blockchain technology, OUSD eliminates the need for multiple correspondent banks, reducing transfer times from days to seconds while maintaining regulatory compliance through its partner network.
The token is designed to be fully collateralized, with each OUSD backed by a reserve of U.S. dollars held by the founding partners, ensuring price stability and user confidence.
OUSD represents a significant step toward a more inclusive global financial system, combining the speed of crypto with the trust of established institutions.
Open Standard plans to roll out additional features, including programmable smart contracts and integration with decentralized finance platforms, to broaden OUSD’s utility beyond simple payments.
Mint Daily coverage of Open Standard launches OUSD stablecoin with five founding partners