Coinbase enabled deposits and withdrawals of Open USD (OUSD) on October 1, 2026, one day after the consortium-backed stablecoin launched on September 30. The feature covers four networks: Base, Ethereum, Solana and Tempo, and is live in supported regions.

The integration lets users move OUSD in and out of Coinbase accounts across the four chains, hold the token, and transfer it to external wallets on whichever network they choose.

What is OUSD's ownership structure?

Coinbase is not acting purely as a distribution venue. It is one of OUSD's five founding partners, alongside Mastercard, Shopify, Stripe and Visa. Each partner holds equal equity in the project.

That structure underpins the token's pitch. Instead of a single company issuing the token and retaining the economics, OUSD operates on what its backers call the Open Standard consortium model — shared governance and shared economics among the five partners.

The consortium says founding partners have committed over $1 billion in liquidity for the launch. Stripe's own blockchain carries a large share of that early depth: Tempo, Stripe's new Layer 1 network, listed OUSD with over $400 million in initial liquidity.

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

What are the redemption and reserve terms?

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 partners, including Coinbase and Stripe.

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

Why launch a consortium stablecoin now?

OUSD targets 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 prefer not to depend on a single issuer.

The adoption plan relies on scale. The consortium's strategy focuses on bringing in over 200 partner companies to expand usage across payment networks, positioning OUSD for cross-border payments and institutional trading.

The partner lineup spans the payments stack: Visa and Mastercard run card networks, Stripe processes payments for online businesses, Shopify hosts merchants, and Coinbase contributes exchange and on-chain infrastructure.

What does this mean for Coinbase and the market?

For Coinbase users, the immediate change is practical: another dollar token in the app, movable across four chains and backed by reserves at named custodians.

For Coinbase itself, the dynamic is notable. As both a founding equity holder and a major distribution channel, the exchange has a direct stake in OUSD gaining traction. Enabling transfers one day after launch signals how quickly it wants adoption to begin.

The next tests are concrete: whether the over $1 billion in committed liquidity converts into real trading volume, whether additional exchanges and wallets follow Coinbase, Kraken and Uniswap, and how the monthly reserve attestations land with institutional users. Tempo's growth will serve as another signal, given its over $400 million in initial OUSD liquidity.