Open USD (OUSD)
Open USD (OUSD) is a US dollar stablecoin from Open Standard, a consortium of more than 140 companies including Visa, Mastercard, Stripe, BlackRock and Coinbase. Member businesses can mint and redeem at no cost, and nearly all earnings on the fiat reserves are shared among participating companies rather than kept by a single issuer. Announced in June 2026 and led by founding CEO Zach Abrams, the token is slated to launch later in the year.
A bank- and tech-consortium fiat stablecoin that distributes issuer economics across 140+ member companies instead of one firm. Structurally significant for stablecoin market structure, but fully fiat-dependent, permissioned at the issuance layer, and pre-launch with no track record. Weighted M69 score: 2.2 (minimally aligned).
M69 Score
Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.
Detailed Rating Breakdown
Issuance Model3x3.0
Fully-reserved mint/redeem gives elastic two-way supply, but minting is restricted to approved member businesses and supply tracks fiat reserves (Treasuries), not real economic activity.
Spending Power Stability2x2.0
Hard 1:1 USD peg via free mint/redeem is a proven mechanism class, but the benchmark is a single inflating fiat currency and there is zero live track record — the token has not launched.
Fiat Independence & Interoperability2x1.0
Maximally fiat-dependent by design: USD unit of account, 90-100% fiat reserves held at regulated US financial institutions, full banking-rail dependency, no transition path away from fiat.
Traction2x2.0
200+ committed member companies, a well-funded team and heavy major-media coverage, but no live token, zero users, and adoption incentives are revenue-share driven rather than organic.
Sovereignty2.0
Operated by a single US-regulated company; reserves custodial, compliance blacklisting capability expected. Token self-custody on public chains is the only sovereignty positive.
Governance2.0
Governance shared among partner companies rather than one issuer — better than single-firm control — but corporate, off-chain, with closed deliberation and no user representation or constitutional protection of monetary rules.
Resilience3.0
Extremely well-funded with a sustainable management-fee model and multi-chain plans, but the design is untested — no crisis history, no live stress performance.
Inclusivity3.0
Anyone can hold the token pseudonymously on public chains at low cost, but mint/redeem and all reserve economics are gated to member businesses; end users receive none of the seigniorage.