Open USD is a new stablecoin announced by a large group of finance and technology companies, and the headlines everywhere say it is "backed by Visa, Mastercard and BlackRock." This guide explains what Open USD actually is, what that backing claim really means, and how it compares to USDC, the stablecoin most people already know.
What is Open USD?
What is Open USD?
Open USD, ticker OUSD, is a stablecoin created by Open Standard, a consortium of more than 140 finance and technology companies. A stablecoin is a digital token designed to hold a steady value, usually one US dollar, so it can be used for payments and trading without the price swings of other crypto assets. Open USD is built to always be worth about $1.00.
The important thing to know is that Open USD is not live yet. Open Standard announced it in mid-2026 and has said it will launch later in the year, starting on the Solana blockchain, with other networks planned afterward. Until it launches, there is no Open USD you can actually buy or hold.
Because it is still being built, many of the details that matter most for a stablecoin are not public. Open Standard has not yet named the bank or fund manager that will hold the reserves, the firm that will audit those reserves, or the regulated company that will legally issue the token. That makes Open USD a promising announcement rather than a finished product for now.
What is cryptocurrency?
The basics of crypto assets and where stablecoins fit in.
Is Open USD really backed by Visa, Mastercard and BlackRock?
Is Open USD really backed by Visa, Mastercard and BlackRock?
Not in the way the headlines suggest. For a stablecoin, "backed by" normally means the reserves that stand behind the token, the cash and safe assets a holder can redeem their coin for. Open Standard has not named Visa, Mastercard or BlackRock as the manager or custodian of those reserves.
What these three companies actually are is launch partners in the Open Standard consortium. Visa and Mastercard bring payment-network reach, the rails for spending Open USD widely. BlackRock is listed as a partner that lends asset-management and custody credibility. Those are commercial and strategic roles, not confirmed reserve backing. It is worth noting that BlackRock already manages the reserve fund behind USDC, so its presence in a partner list does not make Open USD the same as USDC.
The accurate way to describe it is that Open USD comes from a consortium that includes Visa, Mastercard and BlackRock as launch partners. Until Open Standard names who holds and audits the reserves, no one can confirm what truly backs the token.
Open USD vs USDC
Open USD vs USDC
USDC, issued by Circle, is one of the most established stablecoins and a useful benchmark for any newcomer. The clearest difference today is maturity: USDC has been live since 2018 and publishes regular reserve reports, while Open USD has not launched and has not yet disclosed its reserves or auditor.
| Feature | Open USD (OUSD) | USDC |
|---|---|---|
| Issuer | Open Standard consortium | Circle |
| Status | Announced, not live yet | Live since 2018 |
| Reserves | Cash and short-term government debt, custodian not yet named | Cash and a reserve fund managed by BlackRock |
| Audits | None yet, auditor not named | Monthly attestations by Deloitte |
| Regulation | Says it will follow US stablecoin rules, issuing entity not named | Licensed across US states, plus EU and other regions |
| Availability | Solana first, planned later | Live on many major blockchains |
For someone comparing the two, the takeaway is simple. USDC is a working product with public reserve reporting you can check today. Open USD is an announcement from a well-known group of companies, and its most important safety details will only become clear when it launches. Neither of these facts is a recommendation to use one over the other, they are just what is known right now.
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FAQ
Is Open USD live yet?
No. Open Standard announced Open USD in 2026 and has said it will launch later that year, starting on the Solana blockchain. Until then there is no Open USD to buy or hold.
Is Open USD safe to use?
It is too early to say. The reserves, custodian and auditor behind Open USD have not been named, so the details that usually help you judge a stablecoin's safety are not yet public. USDC, by comparison, publishes monthly reserve attestations you can review today.
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