The Open Standard Consortium launched the Open USD (OUSD) token on June 30, 2026, promising zero minting or burning fees and distributing reserve earnings to partners minus a management fee

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Supply, adoption, and competitive dynamics of fiat-pegged tokens, tracking issuers like Tether and Circle and the payment and trading flows they power.