- Open USD is designed for banking, cross-border payments, card settlement, institutional trading and lending.
- Open Standard has moved from an initial network of more than 140 partners to five founding investors.
- Coinbase, Mastercard, Shopify, Stripe and Visa have committed more than $1 billion to establish OUSD liquidity over the coming months.
Open USD targets core financial infrastructure
Abrams said Open USD is being developed as financial infrastructure for banking, cross-border payments, card settlement, institutional trading and lending. Its economic model is intended to reward companies that contribute to the supply and activity surrounding the digital dollar.
“When are stablecoins successful? It’s when they recede into the background and just become a core part of your mom’s bank account,” Abrams said.
The approach positions Open USD around the idea that stablecoins should become an unobtrusive part of everyday financial services rather than remain a highly visible standalone product.
Open Standard narrows focus from 140 partners to five founders
Open Standard first emerged in June with more than 140 partners spanning payments, banking, crypto and technology. The group included BlackRock, BNY and Standard Chartered.
The announcement unsettled competitor Circle, whose shares were listed as CRCL$82.97, as the market considered whether major USDC partners—including Coinbase, Visa and Mastercard—were aligning with a competing digital dollar.
Some analysts questioned the practical meaning of the partnerships and whether a consortium-like structure involving more than 140 companies, including competitors, could make decisions effectively.
Founding investors receive equal initial stakes
Abrams rejects the description of Open Standard as a consortium. He said Open Standard has corporate investors, but the company is managed by its leadership rather than through a committee representing hundreds of participants.
A smaller group of founding partners holds ownership and governance roles, while the broader network is aligned through rewards connected to its contributions to OUSD.
Coinbase, Mastercard, Shopify, Stripe and Visa have invested as the first five founding partners, with each receiving an equal initial equity stake. Collectively, the five companies have committed more than $1 billion to establish OUSD liquidity over the coming months.
Why This Matters
Open Standard’s structure separates the broader partner network from the smaller group responsible for ownership and governance. That model is intended to give the project a clearer decision-making framework while using rewards to align other participants with OUSD activity. The more than $1 billion liquidity commitment from Coinbase, Mastercard, Shopify, Stripe and Visa also establishes the initial financial backing for Open USD as it targets banking, payments, trading and lending applications.
Frequently Asked Questions
What is Open USD designed to support?
Open USD is designed for banking, cross-border payments, card settlement, institutional trading and lending.
Who are the five founding partners?
The first five founding partners are Coinbase, Mastercard, Shopify, Stripe and Visa.
How much have the founding partners committed to OUSD liquidity?
The five founding partners have committed more than $1 billion to establish OUSD liquidity over the coming months.