Open Standard’s OUSD Stablecoin Adds $626.3 Million in Market Cap
The newly launched OUSD stablecoin saw its circulating supply jump by $626.3 million in its first week, backed by a consortium including Coinbase, Visa, and Mastercard.
Open Standard’s OUSD stablecoin has seen rapid growth since its September 30, 2026 launch, with its market cap increasing by $626.3 million in just one week. The token’s circulating supply reached between $666 million and $668 million, up from an initial supply of $468 million to $477 million.
The project is backed by a consortium of major industry players, including Coinbase, Mastercard, Shopify, Stripe, and Visa. These founding partners committed over $1 billion in liquidity support for the launch. The reserves backing the token are held at BlackRock, Lead Bank, and BNY Mellon.
OUSD launched simultaneously across Ethereum, Base, Solana, and Tempo. Since the project was first announced on June 30, 2026, the partner network has expanded from 140 companies to over 200, with recent additions including UBS and SBI Holdings. Zach Abrams, CEO of Bridge, has directed the strategic positioning of the token.
The stablecoin differentiates itself through a shared-economics model that routes reserve earnings to partner businesses rather than keeping them at the issuer level. It also features fee-free minting and burning at scale. This approach is designed to favor payments and banking use cases, targeting the infrastructure used by merchants and consumers.
While the current supply of OUSD remains a small fraction of the total stablecoin market, which is valued at over $300 billion, the revenue-sharing model provides partners with a financial incentive to integrate the token into wallets, treasury flows, and checkout processes.
The long-term success of the project will depend on whether the initial liquidity support translates into organic demand and if the partner network successfully integrates OUSD into real-world products.
