Mastercard to offer Open USD stablecoin through its BVNK platform

2 weeks ago 23

Mastercard is making Open USD available through BVNK, allowing financial institutions and businesses to access the newly launched stablecoin through infrastructure already used for moving fiat currencies and digital assets.

The payments giant said OUSD will be integrated into BVNK, the stablecoin infrastructure company Mastercard acquired earlier this year. Customers will be able to access the token alongside fiat currencies and other stablecoins for payments, settlement and liquidity management. Mastercard

The integration is intended to reduce the complexity companies face when moving money across different currencies, banking systems, payment networks and digital assets.

“The challenge isn’t creating more forms of money. It’s helping businesses use them,” Mastercard Chief Product Officer Jorn Lambert said.

Open USD launched on September 30 across Ethereum, Solana, Base and Tempo. Businesses can mint and redeem OUSD at a 1:1 conversion rate with the dollar without minting or redemption fees. Open Standard

OUSD is issued by Bridge, the stablecoin infrastructure company owned by Stripe. Open Standard lists Coinbase, Mastercard, Shopify, Stripe and Visa as its initial founding partners. Open Standard

The founding partners have committed more than $1 billion toward OUSD liquidity as the group looks to establish the token as infrastructure for payments, settlement, institutional trading and other financial services. Open Standard

Mastercard’s integration runs through BVNK, which provides infrastructure for holding, transferring and converting between traditional currencies and stablecoins.

Businesses can also access OUSD through Stripe and Visa, while Coinbase support went live on October 1. Each route provides different tools covering areas including settlement, payment orchestration, trading, foreign exchange, wallets and cards. Open Standard

The move adds to Mastercard’s growing push into stablecoin payments as it positions its network to operate across what it describes as a “multi-money” financial system encompassing bank deposits, card networks, real-time payments and digital assets.