Open USD Stablecoin Goes Live as Bitcoin Holds Near $84,000 Amid 5% Treasury Yields
Open USD, a dollar stablecoin backed by Coinbase, Visa, Mastercard, Stripe and Shopify, is now live on four blockchains. Meanwhile, Bitcoin holds near $84,000 as soft inflation data collides with elevated Treasury yields.
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Open USD Goes Live With Payments Giants Behind It
Open Standard, an independent company led by Bridge co-founder Zach Abrams, has put its Open USD (OUSD) stablecoin into live distribution. The token launched on September 30 natively on Base, Ethereum, Solana and Tempo. Coinbase opened its own integration path today, October 1, joining Stripe, Visa and Mastercard-owned BVNK as access routes for businesses.
Coinbase, Mastercard, Shopify, Stripe and Visa are the five founding partners, and together they have committed more than $1 billion in launch liquidity. Bridge, a Stripe company, issues the token, with reserves held at BlackRock, Lead Bank and BNY. Monthly reserve attestations are planned. Trading support is listed on Coinbase, Kraken and Uniswap.
The economics set OUSD apart from incumbents such as USDC and USDT. Businesses can mint and redeem at no cost, and partners receive the earnings generated by reserves, minus a small management fee. One caveat: Bridge's national trust bank charter has only preliminary conditional approval from the Office of the Comptroller of the Currency and is not yet operational.
Bitcoin Fades After a Soft Inflation Print
While stablecoin infrastructure expands, Bitcoin's price action remains tied to macro data. After a softer-than-expected PCE report on Wednesday, Bitcoin briefly climbed above $85,500, then slipped back below $83,500 within hours. It closed September 30 at $83,554, roughly flat on the day. Ether ended near $2,684.
The reversal mirrored the Treasury market. The 10-year yield climbed back above 5% as traders looked past the inflation data toward Friday's September jobs report. Softer inflation has reduced the odds of an October Federal Reserve rate hike to about 37%, but high long-term yields keep raising the opportunity cost of holding non-yielding assets like Bitcoin.
Demand from U.S. institutions remains a counterweight. Spot Bitcoin ETFs attracted about $66.2 million in net inflows on Tuesday, a ninth consecutive session of inflows.
What to Watch Next
Traders see $82,000 to $83,000 as near-term support and $85,000 as the key resistance level. Friday's jobs report is the next major catalyst for both Bitcoin and Treasury yields. For OUSD, the key metrics are how much supply builds up across the four chains, how quickly Coinbase's integration drives usage, and when Bridge publishes its first reserve attestation.