Open Standard announces the launch of Open USD, abbreviated as OUSD, which has already been launched on four blockchains: Base, Ethereum, Solana, and Tempo; Chainlink has been designated as the official data oracle, with five founding partners committing to providing over $1 billion in initial liquidity.
- Open Standard indicates that OUSD has been launched on four blockchains, with a promised liquidity of over 1 billion US dollars.
- As this stablecoin enters the official distribution phase, Chainlink has been appointed as the official data oracle for OUSD.
- Enterprises can mint and redeem OUSD in US dollars at a 1:1 ratio through four supported integration providers.
- OUSD is issued by Bridge; the reserves are held in BlackRock, Lead Bank, and BNY, and certificates are issued on a monthly basis.
- Aave Labs has proposed to support the lending between OUSD, but the production environment data sources and risk parameters for Chainlink are still to be determined.
On September 30, Open Standard stated that OUSD has been launched on Base, Ethereum, Solana, and Tempo. Enterprises can obtain access through Stripe, Mastercard, Visa, and Coinbase. Each integration path supports a 1:1 conversion between US dollars and OUSD without any fees for minting or burning. The access for Coinbase was originally scheduled to start on October 1st, while BVNK, Stripe, and Visa Stablecoin Platform have been available from the first day of launch.
Chainlink announced that Open Standard has standardized its infrastructure to become the official data oracle of OUSD. This oracle network indicates that its technology can support uses such as collateral, trading, lending, margin products, automated market maker funds pools, and revenue treasuries.
Open USD launched on four chains, providing four access routes
Open Standard lists OUSD as natively supported by Base, Ethereum, Solana, and Tempo. The project's launch announcement provides contract addresses for each network, including the deployment addresses for Ethereum and Solana.
Coinbase, Kraken, and Uniswap have been listed as some of the earliest trading venues expected to support OUSD. Enterprises can access this stablecoin through Coinbase, Mastercard, Stripe, and Visa, but the services provided by each partner vary.
Stripe's subsidiary, Bridge Building Inc, is currently responsible for issuing OUSD. Open Standard indicates that the reserves are managed by BlackRock, Lead Bank, and BNY. The monthly reserve reports are expected to be published through Bridge.
Through Stripe and Bridge, enterprises can utilize services that cover payment orchestration, wallets, cards, foreign exchange, as well as fiat currency deposit and withdrawal channels. Mastercard provides integration paths via BVNK, while Visa offers OUSD through Visa Stablecoin Platform.
According to the integration page of Open Standard, Coinbase supports 1:1 conversion, hosting, trading, financing, and payment services.
Visa indicates that the access within its Stablecoin Platform is in the testing phase and is subject to restrictions based on qualifications, trading volume, and region. The legal documents for Open Standard list the European Economic Area as one of the judicial jurisdictions that network partners may face limitations when promoting OUSD.
Bridge has previously received regulatory approval in Luxembourg for its European operations. Bridge has obtained MiCA and an electronic money license to further its European expansion.
Chainlink provides oracle infrastructure for OUSD.
In a announcement on September 30, Chainlink stated that the network has become the official data oracle for Open USD.
The oracle network transmits external information to blockchain applications, enabling smart contracts to use data such as asset prices when executing transactions. Lending markets, decentralized exchanges, and other financial applications typically rely on oracle data sources for pricing.
When Aave Labs proposed to add OUSD to Ethereum's Aave V3 as well as Aave V4 Core Hub, they further clarified the use cases for the Chainlink infrastructure.
In the initial proposal, OUSD could be used as supply and borrowed assets, but the mortgage function would remain disabled. Aave Labs indicates that in the future, as this stablecoin accumulates more on-chain liquidity and price history, mortgage support, higher limits, and other settings could be considered.
The预言机 configurations listed in this proposal are still to be determined, and it is stated that the final risk parameters will be added after the recommended sources become available and the Chainlink data source is deployed into the production environment.
The collaboration between Chainlink and OUSD continues their previous work in traditional financial infrastructure. Chainlink has previously connected banks to Swift's blockchain ledger infrastructure, allowing participating institutions to interact with blockchain-based systems while retaining control over transaction signatures.
Stripe and Mastercard will incorporate OUSD into the payment products.
Stripe indicates that OUSD can be used through products such as Treasury, Issuing, Global Payouts, Crypto Onramp, and Payments.
On Tempo, Stripe describes OUSD as its default stablecoin configuration. Customers can still choose other supported stablecoins and blockchain networks.
Stripe indicates that Ramp is expected to utilize its infrastructure to provide services for stablecoin accounts that can hold OUSD, earn network rewards, and make payments. Existing users do not need to convert their balances of other stablecoins to OUSD.
Mastercard indicates that Open USD can be accessed through BVNK. Financial institutions, distributors, and enterprises can use the infrastructure provided by BVNK to interact with OUSD, fiat currencies, and other stablecoins.
Visa has identified Open USD as one of the first supported assets within its Stablecoin Platform. This payment company has also previously collaborated with Bridge to expand stablecoin infrastructure, including card products linked to digital dollar balances.
According to previous reports by crypto.news regarding the expansion of stablecoin cards for Visa and Bridge, both companies plan to expand their stablecoin-supported card projects to over 100 countries by the end of 2026.
OUSD Rewards depend on partner activities.
Coinbase, Mastercard, Shopify, Stripe, and Visa are the five founding partners of Open Standard. Open Standard stated on September 24th that these partners are investing in the company and helping to establish over $1 billion in short-term liquidity for the launch of OUSD.
The company appointed Bridge, co-founder Zach Abrams, as the full-time CEO of Open Standard. Open Standard stated that founders and participating network partners can obtain equity based on the OUSD supply and activities generated on their platform.
According to the partner information of Open Standard, its cooperation network includes more than 200 financial institutions, fintech companies, banks, and global enterprises.
Securitize subsequently joined this ecosystem, becoming Open Standard Network Partner, and plans to support the integration of OUSD through its tokenization infrastructure.
Open Standard Previous design documents described a model where, after deducting management fees, the reserve earnings could be distributed to participating partners. The current integration materials state that partners must join Open Standard in order to be eligible for rewards linked to the supply volume of OUSD generated on their platform and related activities.
Bridge Bank approvals in the United States are still conditional
Bridge has received preliminary conditional approval from the US Federal Reserve (OCC), allowing it to establish a Bridge National Trust Bank in New York.
The approval of OCC is subject to certain conditions, which must be met before the bank begins its operations.
The decisions of the regulatory authorities cover the proposed activities, including stablecoin issuance, digital asset custody, payment orchestration, and reserve management. The final authorization still depends on Bridge meeting the pre-operating requirements of OCC.
Bridge clarified in its OUSD announcement that Bridge National Trust Bank is still an independent legal entity in the process of being established and has not yet commenced operations.
