Open USD (OUSD): A new stablecoin backed by major companies aims to lower costs for global payments
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Author: Open Standard
Summary
Open USD (OUSD) is a new stablecoin announced for global money movement, backed by major companies. It aims to address key industry pain points: high minting/redeeming fees at scale, inability for businesses to benefit from reserve revenues, and dependency on third-party issuer roadmaps. The stablecoin is positioned as an open standard to compete with existing stablecoins by offering lower costs and more flexibility for businesses and developers.
Source
Twitter / XOpen USD (OUSD): A new stablecoin backed by major companies aims to lower costs for global paymentsjoinopenstandard.comKey quotes
· 3 pulledToday we're announcing Open USD, a new stablecoin for global money movement.
Stablecoins are being rapidly adopted for their speed, cost, and programmability, with transaction volume approaching that of the ACH network.
fees to mint and redeem most stablecoins are prohibitively expensive at larger volumes; companies aren't always able to benefit from the revenues earned on the underlying reserves; and developers have little recourse if the roadmaps of third-party issuers do not meet their needs.
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