Coinbase enables OUSD transfers across Base, Ethereum, Solana and Tempo

Coinbase now lets users send and receive Open USD, or OUSD, on four networks: Base, Ethereum, Solana and Tempo. The feature is live in supported regions.

The timing is tight. OUSD went live on September 30, 2026, and Coinbase switched on support the next day, October 1. For a stablecoin that wants to compete with the biggest dollar tokens in crypto, landing on a major exchange within 24 hours is a strong opening move.

What Coinbase actually turned on

The integration covers the basics: moving OUSD in and out of Coinbase accounts across the four supported chains. Users can hold the token and transfer it to outside wallets on whichever of those networks suits them.

Coinbase is not just a venue here. It is also one of OUSD’s founding partners, alongside Mastercard, Shopify, Stripe and Visa. Each of the five holds equal equity in the project.

That ownership structure is the core of the pitch. Rather than one company issuing the token and keeping the economics, OUSD runs on what its backers call the Open Standard consortium model.

OUSD is also trading beyond Coinbase. Kraken and the decentralized exchange Uniswap both offer access, giving the token a presence on centralized and onchain venues from the start.

The numbers behind the launch

The consortium says founding partners have committed over $1 billion in liquidity for the launch.

Stripe’s own blockchain carries a big piece of that early depth. Tempo, Stripe’s new Layer 1 network, added OUSD with over $400 million in initial liquidity.

For businesses, the headline feature is cost. Companies can mint and redeem OUSD at a 1:1 ratio with the dollar, fee-free and with no volume limits. Those flows run through integrations from major players, including Coinbase and Stripe.

Reserves are held at BlackRock, Lead Bank and BNY. The consortium publishes monthly attestations, which are periodic third-party checks that the backing assets exist.

Why a consortium stablecoin, and why now

OUSD is aimed squarely at incumbent dollar-pegged tokens such as Tether’s USDT and Circle’s USDC. Its backers are betting that shared governance and shared economics will appeal to businesses that would rather not depend on a single issuer.

Open Standard’s adoption plan relies on scale. The consortium’s strategy focuses on bringing in over 200 partner companies to expand usage across payment networks. The goal is to position OUSD for cross-border payments and institutional trading.

The partner list reads like a who’s who of moving money. Visa and Mastercard run card networks. Stripe processes payments for online businesses. Shopify hosts merchants. Coinbase brings exchange and onchain infrastructure.

What this means for the stablecoin market

For Coinbase users, the immediate change is practical. There is now another dollar token in the app, movable across four chains, backed by reserves at well-known custodians.

There is also a notable dynamic for Coinbase itself. As both a founding partner and a major distribution channel, it has a direct stake in OUSD gaining traction. Its decision to enable transfers a day after launch shows how quickly it wants that adoption to begin.

What to watch next: how fast the over $1 billion in committed liquidity turns into real trading volume, whether additional exchanges and wallets follow Coinbase, Kraken and Uniswap, and how the monthly reserve attestations land with users. Tempo’s growth is another signal, given its over $400 million in initial OUSD liquidity.