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KCEX reports launch of consortium-backed Open USD stablecoin with Visa, Mastercard, Stripe, Coinbase, BlackRock, Google

KCEX reports launch of consortium-backed Open USD stablecoin with Visa, Mastercard, Stripe, Coinbase, BlackRock, Google
KCEX launches consortium-backed OUSD stablecoin

KCEX reported the launch of Open USD (OUSD), a new US dollar–pegged stablecoin backed by over 140 companies including Visa, Mastercard, Stripe, Coinbase, BlackRock, and Google. The introduction of OUSD, which uses a consortium-governed structure and a shared-yield model, led to a sharp decline in Circle’s stock price.

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KCEX highlighted the launch of Open USD (OUSD), a US dollar–pegged stablecoin introduced by the Open Standard consortium, which is supported by over 140 companies from payments, banking, technology, and cryptocurrency sectors. Unlike single-issuer stablecoins, OUSD employs a consortium-governed structure, distributing yields from reserve assets to its partner companies through a shared-yield model, and imposes no fees for minting or redemption.

The stablecoin will initially be deployed on the Solana blockchain with future plans for multi-chain support, and its release has led to a significant decrease in Circle’s stock price, reflecting market concerns about the potential impact on incumbent stablecoins such as USDC and USDT. OUSD is not yet live, and its adoption will depend on further details regarding its issuing entities, reserve custodians, and regulatory compliance.

KCEX is a Seychelles-registered centralized cryptocurrency exchange founded in 2021, operating under the regulatory frameworks of the United States and Canada and registered as a Money Services Business with FinCEN. The platform offers spot and futures trading for digital assets and emphasizes security with transparent compliance measures, but it does not provide passive investment options or support fiat transactions. For more details, see the broker profile on Traders Union.

For background, the previous KCEX update on Traders Union covered the listing of the MANLET/USDT trading pair with zero-fee spot trading and deposit availability. You can read more details in the earlier news about KCEX.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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