Open USD bets Stripe’s $1.9 trillion network can break USDT and USDC’s grip

Open USD, a new stablecoin backed by more than 200 organizations, has launched with about $468 million in circulation and a distribution partnership with Stripe, one of the largest payment networks.OUSD, issued for Open Standard, had 468.4 million tokens outstanding following its Sept. 30 debut. Reserve data showed about $468.45 million of backing assets, split between $257.2 million in cash and $211.2 million in Treasuries and short-duration money-market funds.The token also went live on Tempo, with more than $400 million in liquidity deployed across decentralized exchanges, stablecoin swaps, and bridges. OUSD is issued natively on Tempo, Base, Ethereum, and Solana, giving businesses several venues for payments, settlement, and treasury operations.Stripe said it is partnering with Open Standard to make OUSD available across parts of its payments stack. Businesses can hold the token through Stripe Treasury, send it through Global Payouts, accept it with Payments and use it with stablecoin-backed card products, subject to product and geographic availability.Stripe puts a $1.9 trillion distribution engine behind OUSDStripe processed $1.9 trillion in total volume during 2025, up 34% f...