Open USD: a shared stablecoin for global financial activity
Open USD is a proposed shared stablecoin designed to function as a neutral, decentralized medium for global financial transactions, aiming to reduce reliance on proprietary digital currencies and enhance cross-border interoperability.
Background
- Open USD (oUSD) is a proposed "shared stablecoin" created by OpenStandard, a new initiative from the founders of the Synthetix derivatives protocol (Kain Warwick) and the Kwenta trading platform (Nick Forster). The goal is to create a decentralized, non-custodial stablecoin backed by a diversified basket of crypto assets — not by fiat reserves in a bank account (like USDC or USDT) or by a single volatile crypto asset (like MakerDAO's DAI, which is mainly backed by Ethereum).