Partners commit to mint roughly $1 billion to establish initial liquidity
Mastercard has joined a payments consortium to launch Open USD, a new stablecoin pegged to the US dollar. The initiative, developed by Open Standard, aims to expand digital currency infrastructure for corporate settlement, banking, and cross-border transactions.
Mastercard-owned BVNK is anchoring the initial rollout alongside Visa, Stripe, and Coinbase Global. E-commerce platform Shopify is also taking part, with the participating group committing to mint roughly $1 billion in total token supply to establish immediate liquidity.
Stripe subsidiary Bridge serves as the direct issuer of OUSD. Its underlying dollar reserves are managed across BlackRock, Lead Bank, and BNY, with reserve attestations scheduled for release every month.
The token operates natively across several blockchain networks, including Ethereum, Solana, Base, and Tempo. Exchange support at launch includes Uniswap, Kraken, and Coinbase. The project enters a concentrated market led by Tether's USDT and Circle's USDC, and it plans to distribute platform economics and equity among participating institutions to drive adoption.
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