Open USD has gone live on Solana as part of a four-chain launch backed by some of the largest companies in payments and financial infrastructure. OUSD is a dollar-backed stablecoin issued by Bridge, the Stripe-owned stablecoin infrastructure company, with businesses able to mint and redeem the asset 1:1 for U.S. dollars without minting or redemption fees. According to the Solana Foundation’s official announcement, reserves are held at BlackRock, Lead Bank and BNY, with monthly attestations planned.
The stablecoin launched natively on Solana, Ethereum, Base and Tempo on September 30. Coinbase, Mastercard, Shopify, Stripe and Visa are Open Standard’s five founding partners, each receiving an equal initial stake, and together have committed more than $1 billion toward establishing OUSD liquidity. The structure is aimed primarily at businesses using stablecoins for payments, treasury, settlement and cross-border money movement rather than at creating another retail-focused crypto token.
OUSD Connects Stablecoin Issuance to Payment Infrastructure
Open Standard offers business access through Coinbase, Mastercard, Stripe and Visa, while BVNK, Stripe and Visa’s Stablecoin Platform were available from launch. Coinbase support was scheduled to begin October 1. Each integration path supports free 1:1 minting and redemption, while the surrounding APIs can cover functions including settlement, FX, wallets, cards, custody and payment orchestration. OUSD itself can still carry small transaction fees under Open Standard’s economic model.
That distribution strategy builds on payment infrastructure already moving toward blockchain settlement. Mastercard has expanded stablecoin settlement onto Solana, while Western Union is developing USDPT-based remittance infrastructure on the network. OUSD differs by aligning the issuer, payment networks and distribution partners through an economic model that rewards companies for generating stablecoin supply and transaction activity.
Open Standard says participating partners can receive rewards proportional to the OUSD supply and activity they generate and may also qualify for equity in the company. Earlier project documentation says reserve earnings are distributed to partners after deducting a management fee. The model shifts part of the economics normally retained by a stablecoin issuer toward the companies responsible for distributing and using the asset, although meaningful adoption will still depend on businesses actually minting and circulating OUSD.
Solana Deployment Uses Token-2022 Infrastructure
On Solana, OUSD is issued natively under mint address ousd2mJsPEckLHcSCDxyKD7NDGARZcfLbDZkKiatYHB using the Token-2022 program. Native issuance means the Solana asset does not represent a wrapped OUSD held on another blockchain. That removes the additional bridge and custodial layer associated with wrapped representations while keeping issuance directly tied to Bridge.
Token-2022 can support extensions including confidential balances and transfers, transfer hooks and issuer controls. The Solana Foundation specifically highlights confidential-transfer capability when discussing OUSD’s underlying token standard. That should not be interpreted as confirmation that every available Token-2022 privacy extension is currently enabled for OUSD itself. Solana documentation notes that confidential balances can hide amounts while addresses and transaction participation remain publicly visible, meaning even enabled confidential transfers would provide confidentiality rather than complete anonymity.
The launch enters an ecosystem where stablecoins are already being embedded into conventional commercial flows. Meta, for example, has tested USDPT-based remittance infrastructure on the network, while Solana says more than $5 trillion in stablecoin volume has moved across the network during 2026. That historical network activity provides an established settlement environment for OUSD, but it does not guarantee that the new stablecoin will inherit the same usage.
What distinguishes OUSD at launch is therefore less the existence of another dollar token than the distribution model surrounding it. Bridge provides issuance, major financial institutions hold the reserves, and some of the world’s largest payment companies have direct economic incentives to put the stablecoin into their own business flows. Whether that architecture can turn more than $1 billion of committed launch liquidity into recurring independent supply and settlement activity will determine whether OUSD develops into a significant payment rail or remains one more well-connected entrant in an already crowded dollar-stablecoin market.
Jack Reynolds is SatoshiPick’s infrastructure mind. Based in Denmark, he follows Bitcoin, Ethereum, Layer 1 networks, stablecoins and DeFi with a practical question always in the background: does this actually make crypto work better?
His articles focus on the systems beneath the headlines: settlement rails, protocol upgrades, stablecoin usage, DeFi coordination and the regulatory limits around them. Jack avoids turning technical coverage into a maze. He explains what is live, what is still experimental and why the difference matters.