Open USD Goes Live on Solana With Over $1 Billion in Launch Liquidity

The Solana Foundation announced on September 30, 2026 that Open USD (OUSD), a US-dollar stablecoin from the company Open Standard, is now live on Solana. Businesses can mint and burn OUSD 1:1 for dollars at no cost and put it to work in payments, settlement and treasury operations from day one, according to the Foundation. The stablecoin is issued by Bridge, a Stripe company, with reserves held at BlackRock, Lead Bank and BNY, and reserve attestations published monthly.

Open Standard’s own launch announcement, published earlier the same day, states that OUSD is supported natively on Base, Ethereum (ETH ), Solana and Tempo, with official contract addresses published for each chain. The Solana mint is ousd2mJsPEckLHcSCDxyKD7NDGARZcfLbDZkKiatYHB. OUSD will be available across centralized and decentralized exchange venues starting with Coinbase, Kraken and Uniswap (UNI ), with more to be added over time, the announcement states.

Businesses and developers can access OUSD through four integration paths — Coinbase, Mastercard, Stripe and Visa — each offering APIs and tools for services including settlement, payment orchestration, trading, foreign exchange, wallets and cards, according to Open Standard. All paths support mint and burn functionality at a 1:1 dollar conversion rate at no cost. Businesses can begin building with BVNK, Stripe and the Visa Stablecoin Platform starting September 30, and with Coinbase starting October 1.

Founding Partners and Governance

Open Standard disclosed in a September 24 post on its company structure that Coinbase, Mastercard, Shopify, Stripe and Visa joined as its initial founding partners, each investing in the company and helping establish OUSD supply, together delivering more than $1 billion in near-term launch liquidity. The company said it anticipates adding a limited number of additional founding partners. The Solana Foundation describes the five as coming in with equal initial stakes and states they have committed more than $1 billion to establish OUSD liquidity.

The September 24 post also states that Zach Abrams will join Open Standard as full-time chief executive. Abrams founded Bridge, a stablecoin orchestration and issuance platform, after leading product teams at Square, Coinbase and Brex; he had been leading both Bridge and Open Standard for the past several months and now transitions to focus solely on Open Standard. Once OUSD is live, founders and participating partners will have the opportunity to earn equity based on the supply and activity they drive on their platforms, and Open Standard will over time establish a board of directors drawn from its founders and representing its shareholders, the post states.

On Solana, OUSD is issued natively rather than as a wrapped asset, meaning there is no token standing in for OUSD held somewhere else and no separate pool of liquidity to reconcile against the original, the Foundation states. The Solana mint uses Token-2022, the token standard the Foundation says institutions including PayPal, Fiserv and Western Union (WU ) have leveraged to issue regulated stablecoins on Solana; the standard supports extensions such as confidential transfers at the protocol level rather than in a separate contract.

Launch-Day Reserves and Network Context

Bridge’s reserve dashboard, last updated September 30, 2026 at 7:30 PM UTC, shows 477,338,360 OUSD in total supply in circulation against $477,338,360 in reserve assets, a level the dashboard states as 100.00% collateralized. The reserves comprised $266,107,652 in cash (55.7%) and $211,230,708 in Treasuries (44.3%); the dashboard notes that Treasuries include money-market funds comprised of T-bill ladders with less than 3-month duration. OUSD is denominated in US dollars and issued from the US, and the dashboard lists Tempo, Base, Solana and Ethereum as its chains.

The Foundation states the Solana (SOL ) network has processed more than $5 trillion in stablecoin volume in 2026, with stablecoin supply of $17.4 billion, up 18.8% year over year, while the number of addresses moving stablecoins in a given week has more than doubled over the same period. It puts the median transaction fee at around $0.0013. “The launch of OUSD on Solana comes with real settlement demand on day one,” said Jamal Raees, General Manager of Payments at the Solana Foundation, naming Western Union, Visa, PayPal and Fiserv as major enterprises leveraging the network.

The wider network of companies planning to integrate OUSD has passed 200, the Foundation states, with UBS, SBI Holdings and Jeeves among the recent names. Open Standard’s partners page, last updated September 30, 2026, lists those firms as network partners alongside American Express (AXP ), Adyen, BNY, BlackRock, DBS Bank, Google, MoneyGram, SoFi, Standard Chartered (STD.DE ) and Western Union.

Open Standard first unveiled Open USD in a June 30, 2026 announcement, stating it had brought together over 140 businesses to launch the stablecoin and that it would go live later in the year. “We’re thrilled to bring together over 140 businesses to launch Open USD,” the company said at the time. That announcement set out three design principles: businesses can mint and redeem OUSD at no cost and with no artificial limits on volume; partners receive all of the earnings from OUSD’s reserves, less a small management fee to cover operational costs; and the stablecoin is operated by Open Standard, an independent company with a board made up of its partners.

Under the announced rollout, the Coinbase integration path opens October 1, additional exchange venues are to be added over time, and reserve attestations are to be published monthly. Open Standard states OUSD is purpose-built for use cases across banking, cross-border payments, settlement and institutional trading.