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Expansion of institutional stablecoin markets

Updated 2 times since CLSTR started tracking revisions of this situation.

What changed

2026-10-04 04:34 UTC → 2026-10-05 03:55 UTC · added removed

The Open Standard consortium has officially 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. The asset has reached a market valuation of approximately $668 million. OUSD utilizes is issued by Bridge, a yield-sharing ‘equity-for-usage’ model where distribution partners earn rewards based on transaction volume company acquired by Stripe, and supply growth. The project 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 initiative 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. 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.

Versions

  1. 2026-10-05 03:55 UTC Expansion of institutional stablecoin markets
  2. 2026-10-04 04:34 UTC Expansion of institutional stablecoin markets
  3. 2026-10-01 01:32 UTC Expansion of institutional stablecoin markets

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