Deployments · Bridge stablecoin issuance · platform by Bridge

Open USD (OUSD)Updated 7 Nov 2026

A dollar stablecoin run by Open Standard, a company owned equally by Coinbase, Mastercard, Shopify, Stripe and Visa, and issued by Stripe's Bridge. It went live at the end of September 2026 on Ethereum, Solana, Base and Tempo, with over $1 billion of seed liquidity committed by the founders, reserves held with BlackRock, BNY and Lead Bank, and reserve income passed to partners. Minting is through Stripe, Mastercard's BVNK and Visa's stablecoin platform, and trading through Coinbase and Kraken. About $790 million was outstanding on 11 October 2026, most of it on Tempo.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since 30 Sep 2026^[1] — Launched less than two weeks before this record; recorded as live (limited) until usage is evidenced. · Reviewed 25d ago

Assets: Stablecoin^[1]
US dollar stablecoin with reserves held at BlackRock, BNY and Lead Bank
Networks: Tempo Public, permissioned^[3]
Ethereum Public, permissionless^[3]
Base Public, permissionless^[3]
Solana Public, permissionless^[3]
Use cases: Primary issuance^[3]Payments^[2]
Jurisdictions: United States

Participants

Open StandardOperator^[2]United States
BridgePlatform provider, Issuer^[1]United States
StripeInvestor, Distributor^[1]United States
CoinbaseInvestor, Distributor^[1]United States
MastercardInvestor, Distributor^[1]United States
VisaInvestor, Distributor^[1]United States
ShopifyInvestor^[1]Canada
BVNKDistributor^[1]United Kingdom
KrakenDistributor^[1]United States
BlackRockAsset manager^[1]United States
BNYCustodian^[1]United States
Lead BankCustodian^[1]United States
EYAuditor or reserve attestor^[4]United Kingdom

Likely relevant regulation

Assets

IssuesOpen USD (OUSD)^[2]

Metrics

~$789.23mTokens in circulation · as of 11 Oct 2026^[3]
On-chain via DefiLlama; sum of its per-chain balances.
~$510.9mTokens in circulation · as of 11 Oct 2026 · on Tempo^[3]
On-chain via DefiLlama.
~$123.77mTokens in circulation · as of 11 Oct 2026 · on Ethereum^[3]
On-chain via DefiLlama.
~$84.83mTokens in circulation · as of 11 Oct 2026 · on Base^[3]
On-chain via DefiLlama.
~$69.74mTokens in circulation · as of 11 Oct 2026 · on Solana^[3]
On-chain via DefiLlama.
~$911.98mSupply on chain (daily) · as of 7 Nov 2026^[5]
Automated daily reading of on-chain supply across all chains.
~$112.03mSupply on chain (daily) · as of 7 Nov 2026 · on Ethereum^[5]
Automated daily reading.
~$83.49mSupply on chain (daily) · as of 7 Nov 2026 · on Solana^[5]
Automated daily reading.
~$621.63mSupply on chain (daily) · as of 7 Nov 2026 · on Tempo^[5]
Automated daily reading.
~$94.83mSupply on chain (daily) · as of 7 Nov 2026 · on Base^[5]
Automated daily reading.

Timeline

Happened 30 Sep 2026 · Launch · recorded 11 Oct 2026
Open Standard launches OUSD on four chains with five founding partners; Coinbase access from 1 October.^[1]

Sources

[1]Open Standard launches OUSD stablecoin with five founding partners — The Paypers, 1 Oct 2026. Accessed 11 Oct 2026.C
[2]Stripe-linked Open USD stablecoin goes live with Visa, Mastercard as backers — Ledger Insights, 1 Oct 2026. Accessed 11 Oct 2026.C
[3]OUSD stablecoin data (API) — DefiLlama, 11 Oct 2026. Accessed 11 Oct 2026.A
[4]Open USD Reserves Report and Independent Accountants' Report, 31 August 2026 — Bridge Building Inc. (examined by Ernst & Young LLP). Accessed 28 Oct 2026. Pre-launch report date; reserves then about $40,700. Cash is said to sit at unnamed US commercial banks..A
[5]Supply by chain, read daily — DefiLlama (automated daily refresh). Accessed 7 Nov 2026.A

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