Open USD stablecoin launches on Solana, backed by $1B liquidity pledge from five payments giants
Open USD, a dollar stablecoin issued by Bridge and backed by Coinbase, Mastercard, Shopify, Stripe and Visa, went live natively on Solana on September 30 with more than $1 billion pledged to liquidity.
A new dollar stablecoin, Open USD (OUSD), went live on Solana on September 30, according to the Solana Foundation's own announcement. The token is issued by Bridge, with reserves held at BlackRock, Lead Bank and BNY, and attestations published monthly at reserves.bridge.xyz/ousd. Businesses can mint and burn it 1:1 against dollars at no cost.
The backers are the headline. Coinbase, Mastercard, Shopify, Stripe and Visa are named as founding partners with equal initial stakes, and the Solana Foundation says they have together committed more than $1 billion to seed OUSD liquidity. It puts the wider group of companies "planning to integrate" the token past 200, naming UBS, SBI Holdings and Jeeves among recent additions.
OUSD is issued natively on Solana rather than as a wrapped token, using the Token-2022 standard already used by PayPal, Fiserv and Western Union for regulated stablecoins on the network. The Solana mint address is ousd2mJsPEckLHcSCDxyKD7NDGARZcfLbDZkKiatYHB.
Key facts
- OUSD live on Solana Sep 30, 2026; mint/burn 1:1 for dollars at no cost — Solana Foundation announcement.
- Issued by Bridge; reserves at BlackRock, Lead Bank, BNY; monthly attestations at reserves.bridge.xyz/ousd — same source.
- Founding partners Coinbase, Mastercard, Shopify, Stripe, Visa; >$1B committed to liquidity; 200+ companies "planning to integrate" — same source.
- Solana-cited network figures: >$5T stablecoin volume in 2026; stablecoin supply $17.4B, up 18.8% YoY; median fee ~$0.0013 — Solana Foundation.
The real-world read
The single account of this launch is Solana's own promotional post — a marketing document, not independent reporting, and every figure in it comes from interested parties. Read it accordingly. The "$1 billion committed to liquidity," the "200+" integrators and the "$5 trillion" in 2026 volume are all Solana/Open Standard numbers, unverified elsewhere. Note the careful wording: those 200-plus firms are "planning to integrate," not live and settling.
One relationship the announcement leaves unstated: Bridge, the issuer, is a Stripe company — Stripe acquired it in 2024. Stripe also appears on the founding-partner list as if an arm's-length backer. So the issuer and one of its five marquee "partners" are the same corporate house. The reserve attestations, meanwhile, are self-published by the issuer and monthly; independent verification isn't possible from a launch-day link.
The Jamal Raees quote — "every major stablecoin launch is happening on Solana" — is a foundation executive selling his own network, and should be treated as a sales line, not a market fact.
Opinion, and whose
Raees (Solana Foundation) argues OUSD arrives with "real settlement demand on day one" because payments firms already run on Solana. That is a claim from the platform hosting the token, not an independent assessment. Whether $1 billion in pledged liquidity and 200 prospective integrators translate into actual settlement volume is unproven as of launch.
Sources
- Solana Foundation, "Open USD Is Live on Solana," Sep 30, 2026 — primary source for all launch details, partners, reserves and network figures. This is Solana's own promotional announcement; treat as marketing, not independent reporting.
This is news coverage, not financial advice.