Coinbase, Visa, and three other companies have become founding partners of Open Standard and have received equal initial equity stakes.

BlockBeats news, September 30: Open Standard CEO Zach Abrams stated that the company is not a consortium governed by joint decision-making among hundreds of participants. Day-to-day operations are managed by the management team, while a smaller group of founding partners holds ownership and governance functions, with other partners rewarded based on their contributions to driving OUSD supply and transaction activity.

Coinbase, Mastercard, Shopify, Stripe, and Visa have invested to become the first five founding partners, each receiving an equal proportion of initial equity. The five companies have also committed to investing over $1 billion in the coming months to build liquidity for OUSD. The specific investment amounts and equity stakes of each company have not been disclosed.

These five companies are currently the sole investors in Open Standard. Abrams expects the number of founding partners to grow to approximately 10 to 12 in the future, with plans to establish a board of directors composed of founding partners. Meanwhile, the number of partners planning to integrate OUSD has increased from over 140 in June this year to over 200, with the latest additions including SBI Holdings, UBS, and fintech company Jeeves.