A consortium backed by more than 100 companies has launched a new U.S. dollar-pegged stablecoin named OUSD, according to a report from Bloomberg. The stablecoin is issued by Open Standard and is now available to businesses and software developers. Visa Inc., Stripe, Mastercard-owned BVNK, and Coinbase Global Inc. are providing initial access to the asset.
The consortium, which includes Shopify Inc., has committed to minting roughly $1 billion worth of OUSD to seed liquidity. Open Standard CEO Zach Abrams, who previously led stablecoin infrastructure company Bridge before its acquisition by Stripe in 2025, stated that the project was designed to address limitations holding back broader stablecoin adoption.
OUSD is currently live across four blockchains, including Ethereum and Solana. Consortium members plan to integrate the stablecoin into their products. The combination of payments networks, crypto infrastructure, and commerce platforms is intended to provide OUSD with a built-in distribution network.
The project’s initial announcement in June drew investor attention and weighed on Circle Internet Group Inc. shares amid concerns that stronger payments-industry competition could challenge USDC’s position. Despite growing institutional interest, breaking the dominance of Tether and USDC remains a significant challenge for new stablecoins. Tether has roughly $184 billion in circulation, while stablecoins introduced by established payments companies such as PayPal Holdings Inc. remain considerably smaller.
