Open USD (OUSD), the dollar stablecoin backed by Coinbase, Mastercard, Shopify, Stripe and Visa, went live on Wednesday, its operator Open Standard announced on X.

Businesses can start building with OUSD through Mastercard, Stripe and the Visa Stablecoin Platform now, with Coinbase access beginning Oct. 1. Each of the four integration paths lets businesses mint and burn the token at a 1:1 rate against the dollar at no cost, Open Standard said. The token runs natively on Ethereum, Solana, Base and Tempo, and will first be available to trade on Coinbase, Kraken and Uniswap.

OUSD is issued by Bridge, the stablecoin infrastructure firm Stripe owns, with reserves held at BlackRock, Lead Bank and BNY. Bridge will publish reserve attestations monthly.

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What Stripe Is Offering

Stripe said OUSD will be available alongside the stablecoins it already supports. Developers can use it across Stripe’s stablecoin products, including Bridge orchestration, Privy embedded wallets and stablecoin cards through Stripe Issuing, and businesses can hold OUSD balances in Stripe Treasury and send them to crypto wallets in more than 100 countries.

Stripe pitched the token at high-volume cross-border businesses such as remittance and payroll companies, arguing that the variable fees to convert other stablecoins in and out of dollars make them expensive to use. Open Standard instead charges a small transaction fee. Ramp, an Open Standard partner, uses Stripe to run stablecoin accounts that will let its customers hold OUSD and earn rewards.

“OUSD offers businesses better economics than any other stablecoin,” Privy co-founder Henri Stern said in Stripe’s announcement.

Equity for Partners

Open Standard unveiled the project in June with more than 140 partners. It now counts more than 200, and says partners earn rewards in proportion to the supply and activity they drive, along with a chance to earn equity in the company.

“The overwhelming majority of our cap table is going to be distributed back to founders and non-founders based on how they help grow the network,” CEO Zach Abrams said in an interview with CoinDesk. The five founders are also putting up more than $1 billion to seed OUSD’s supply at launch, Open Standard said on Sept. 24.

Abrams co-founded Bridge, which Stripe bought in a $1.1 billion deal announced in 2024.

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