Visa, Mastercard and Stripe Just Backed a New Stablecoin Called OUSD
Oct 2, 2026
OUSD, a new dollar stablecoin backed by Visa, Mastercard, Stripe, Coinbase and Shopify, launched with over $1 billion in initial liquidity across four blockchains.
Visa, Mastercard and Stripe Just Teamed Up on a Stablecoin
A new stablecoin called OUSD just went live, and the list of backers is pretty stacked. Open Standard launched the token through Bridge (the company Stripe bought for $1.1 billion back in 2024), with five founding partners putting up over $1 billion in initial liquidity: Coinbase, Mastercard, Shopify, Stripe, and Visa.
The bigger picture is even wilder. The consortium behind OUSD reportedly includes more than 200 financial institutions, with names like Google and BlackRock said to be involved too.
OUSD runs natively across Base, Ethereum, Solana, and Tempo, and it's already trading on Coinbase, Kraken, and Uniswap. Businesses can mint or redeem it 1:1 for dollars at no cost, with reserves parked at BlackRock, Lead Bank, and BNY.
The setup is designed to feel a bit like the old Visa and Mastercard membership model, where partners earn rewards tied to the supply and activity they generate. It's entering a crowded field though, with USDT and USDC still controlling the vast majority of the roughly $308 billion stablecoin market.