Mastercard’s BVNK has made Open USD (OUSD) available on its platform, enabling businesses to mint, redeem, hold, and transfer the stablecoin.
BVNK has made Open USD (OUSD) available across its platform, giving customers a direct integration path to mint, redeem, hold, send, and receive the stablecoin. The service includes 1:1 conversion against USD balances held on the platform. BVNK operates as part of Mastercard, which is a founding member of the Open Standard consortium behind OUSD.
According to the company, the launch is part of its plan to build a single network for different forms of money. For customers, this means access to payment stablecoins, blockchain networks, and traditional payment infrastructure through one operating layer, rather than through separate providers or integrations.
A consortium-based issuance model
OUSD is backed by a consortium of more than 200 companies, including Mastercard, Stripe, BlackRock, and Coinbase, and has been designed specifically for enterprise-scale payments. Its structure differs from stablecoin arrangements in which a single issuer retains 100% of the revenue generated from reserves. Instead, OUSD runs on what its backers describe as an open-infrastructure model.
Under this model, minting and redemption are offered at zero cost, removing the fees typically involved in moving between fiat and the stablecoin. Strategic oversight sits with Open Standard, an independent entity governed collaboratively by its partner ecosystem. This governance structure spreads oversight across consortium members instead of concentrating it with one issuing company.
Network coverage and integration options
BVNK provides access to OUSD on four blockchain networks: Ethereum, Solana, Base, and Tempo. The multi-network approach allows finance and operations teams to choose the network that best suits a given transaction.
The stablecoin is available across all three of BVNK’s integration models. Through direct access, businesses can use the platform and API for their own payments and treasury operations, including sending, receiving, converting, and storing OUSD. At the same time, the embedded model allows companies to package OUSD into their own products via API, offering their users multi-currency wallets, pay-ins, and payouts.
The third model targets wholesale participants such as exchanges, OTC desks, and market makers. For these clients, BVNK offers direct 1:1 mint and burn access. Using Virtual IBANs (VIBANs) and automated rules, wholesale partners can carry out high-volume fiat-to-OUSD conversions under standardised terms.
Availability and access
According to the official press release, BVNK customers can begin using OUSD immediately by logging in to the BVNK portal, opening an OUSD wallet on their chosen network, and minting directly from their USD balance.
The service is available to eligible BVNK business customers outside the European Economic Area (EEA), meaning businesses based within the EEA cannot currently access OUSD through the platform. The launch adds a consortium-backed stablecoin to BVNK’s existing combination of blockchain and traditional payment rails, with coverage spanning internal treasury use, customer-facing products, and wholesale liquidity.
