Image credit: Shutterstock
Open Standard has introduced Open USD, a dollar-pegged stablecoin backed by more than 140 companies across payments, banking, technology and crypto.
The project is designed as a shared stablecoin for business payments and settlement, with reserve earnings distributed to participating firms.
OUSD Partners Will Share Reserve Income
Open USD uses a different economic model from the biggest stablecoins. Open Standard said businesses will be able to mint and redeem OUSD at no cost and without artificial volume limits. Partners will receive the earnings generated by the stablecoin’s reserves, after a small management fee used to cover operating costs.
That model redirects reserve income that large stablecoin issuers typically keep. Large issuers usually earn income from Treasury bills, bank deposits and other short-term assets that back their tokens. Open Standard is trying to move that income closer to the companies driving stablecoin use, including payment firms, exchanges, banks, merchants and fintech platforms.
Visa, Stripe and Coinbase Join Network
The partner list includes major names across payments, banking, technology and crypto, including Visa, Stripe, Mastercard, Coinbase, BlackRock, Google and Ripple. Other firms named in the broader group include American Express, Discover, Adyen, Fiserv, Western Union, MoneyGram, BNY, Standard Chartered, OKX, Bybit and Shopify.
Open Standard will operate as an independent company. Its governance structure is expected to include a board made up of Open USD partners, rather than placing control with one issuer. Zach Abrams, founding CEO of Open Standard and CEO of Stripe-owned Bridge, said the market needs a stablecoin that is open, low-cost and aligned with business users.
OUSD Launch is Planned for 2026
The stablecoin is scheduled to go live later this year. Open Standard says reserves will be held at large financial institutions and managed in line with U.S. regulatory requirements.
That structure is meant to give businesses a regulated reserve model while letting partners share in the income generated by the assets backing OUSD.
Business Payments Are Main Target
The launch is aimed less at retail crypto trading and more at business money movement. Open Standard says OUSD can be used for payments, trading, merchant settlement, remittances, platforms, marketplaces and agentic commerce.
The partner list gives the project possible distribution across card networks, payment processors, exchanges, wallets and merchant platforms.
Reserve Model Challenges USDT and USDC
The product could pressure existing stablecoin issuers if partners move OUSD into live payment flows. Tether’s USDT and Circle’s USDC dominate current supply, but the next contest is expected to come from distribution as much as token design.
Open USD still has to move from partner announcement to live usage. The launch will matter most if the companies backing Open Standard move OUSD from announcement-stage support into real payment and settlement flows.
