Open Standard released the dollar-pegged Open USD (OUSD) token on Wednesday across the Solana, Base, Ethereum and Tempo blockchains. Five founding partners, including Mastercard, Shopify and Coinbase, provided $1 billion in initial liquidity and plan to use the asset in their own business operations. The stablecoin is issued by Stripe's Bridge with reserves held at BlackRock, BNY and Lead Bank, and will be available for trading on Kraken and Uniswap with Coinbase integration starting Oct. 1.

More than 100 firms are backing OUSD for use in institutional trading, settlement and cross-border payments. The asset is accessible through BVNK and Stripe, offering 1:1 USD conversions at no cost for developers and businesses. To further its integration, Aave has released a proposal to onboard the token to its V3 and V4 Core platforms, while over $400 million of the initial liquidity has been deployed on Tempo.