# Expansion of institutional stablecoin markets > Live situation record from CLSTR: https://clstr.news/situations/expansion-of-institutional-stablecoin-markets > Updated: 2026-10-04T13:35:30.000Z. Sources: 18. Developments: 3. The Open Standard consortium has launched Open USD (OUSD), a US dollar-pegged stablecoin designed for enterprise use, international banking, and institutional trading. Available on the Ethereum, Base, Solana, and Tempo blockchains, OUSD is active on trading platforms such as Coinbase, Kraken, and Uniswap. OUSD is issued by Bridge, a company acquired by Stripe, and is supported by a consortium of approximately 200 partners, including founding members Coinbase, Mastercard, Shopify, Stripe, and Visa. The launch is backed by $1 billion in committed liquidity, with reserves managed by institutions including BlackRock, BNY, and Lead Bank. To ensure transparency, monthly reports are scheduled to confirm reserve backing. The asset utilizes a yield-sharing ‘equity-for-usage’ model where distribution partners earn rewards based on transaction volume and supply growth. Since its launch on September 30, 2026, OUSD has reached a market capitalization of approximately $666 million and recorded $2.6 billion in transfer volume. The project aims to provide programmable global infrastructure, potentially impacting regional markets like Latin America through enhanced remittance and digital savings capabilities, while competing with established assets like USDT and USDC by offering zero-fee minting and redemption for businesses. In a parallel development, HSBC has named its forthcoming Hong Kong dollar-pegged stablecoin ‘HSBC RedCoin.’ Following a license from the Hong Kong Monetary Authority, the bank plans to roll out the coin in the second half of 2026, focusing on person-to-person and person-to-merchant payments via its mobile app and PayMe. ## Claims - Open Standard launched a new stablecoin called Open USD (OUSD). (corroborated by 5 sources) - The stablecoin token, called Open USD (OUSD), is a dollar-pegged asset. (corroborated by 5 sources) - OUSD returns reserve earnings, minus a management fee, to participating businesses rather than concentrating them with the issuer. (corroborated by 3 sources) - Businesses can mint and redeem OUSD at par without fees or volume limits. (corroborated by 3 sources) - Five founding partners—Coinbase, Mastercard, Shopify, Stripe, and Visa—received equal initial equity stakes backed by $1 billion in liquidity. (corroborated by 2 sources) - OUSD launched on Ethereum, Solana, Coinbase’s Base, and the Stripe-backed Tempo blockchain. (corroborated by 2 sources) - The majority of Open Standard equity will be distributed over four to five years based on supply growth and transaction activity. (single source) - The consortium grew to over 200 partners at launch, including banks such as UBS, DBS, and ANZ. (single source) - The reserves for OUSD are held at BlackRock, Lead Bank, and BNY. (single source) - The market value of OUSD is approximately $668 million. (single source) - OUSD is available for trading on Coinbase, Kraken, and Uniswap. (single source) ## Timeline ### 2026-10-04: Open Standard launches OUSD stablecoin with Visa and Stripe backing Open Standard has launched OUSD, a stablecoin backed by a consortium including Visa, Stripe, and Coinbase, reaching a $666 million market cap shortly after its debut. 3 sources. https://clstr.news/cluster/open-standard-launches-ousd-stablecoin-with-visa-and-stripe-backing ### 2026-09-30: Open Standard launches Open USD stablecoin with major financial backing Open Standard has launched Open USD (OUSD), a dollar-pegged stablecoin backed by Visa, Mastercard, and Coinbase, aimed at streamlining global payments and institutional settlements. 5 sources. https://clstr.news/cluster/open-standard-launches-open-usd-stablecoin-with-yield-sharing-model ### 2026-09-30: Open Standard launches OUSD stablecoin as HSBC names RedCoin Open Standard has launched the enterprise-focused OUSD stablecoin with support from Visa and Stripe, while HSBC announced its upcoming Hong Kong dollar stablecoin, HSBC RedCoin. 11 sources. https://clstr.news/cluster/hsbc-names-new-stablecoin-hsbc-redcoin-for-p2p-and-p2m-payments --- Cite as: Expansion of institutional stablecoin markets. CLSTR, https://clstr.news/situations/expansion-of-institutional-stablecoin-markets