TLDR Tech / Crypto
Open Standard launches Open USD, backed by 140+ companies
Open Standard, an independent company led by founding CEO Zach Abrams, has announced Open USD (OUSD), a stablecoin built around three design principles: no mint or redemption fees, reserve yield shared by default with partners rather than captured by the issuer, and governance by a partner board rather than any single entity. More than 140 companies have signed on at launch spanning payments (Visa, Mastercard, Stripe, Adyen, Fiserv, and Western Union), banking (BlackRock, BNY, Standard Chartered, BBVA, DBS, Mizuho, and Sumitomo Mitsui), tech (Google, Samsung, Shopify, and DoorDash), and crypto-native firms (Coinbase, Ripple, Solana, MetaMask, and Aave. The stablecoin is expected to go live later this year.
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