Open Standard founder and CEO Zach Abrams said on X that the project has received heavy inbound interest from companies since announcing Open Standard and Open USD earlier this summer. Abrams argued that stablecoins were supposed to be a better form of the dollar, yet most businesses still use them mainly to park assets rather than to move money in day-to-day transactions. He pointed to one friction point: when companies temporarily redeploy idle funds, each redemption often carries a 5 to 10 basis point fee, which can wipe out the benefit. He also said U.S. fintech firms continue to run both fiat and stablecoin rails because fiat fees are fixed and reserves can still be invested in money market funds. For Open USD, Abrams said the model will reward usage instead of assets under management, send as much reserve yield as possible to developers that integrate the stablecoin, charge developers a small transaction fee, and judge the company by transaction volume. He added that Open USD will not charge the burn or redemption fees commonly seen with other stablecoins.
Open Standard founder and CEO Zach Abrams said in a post on X that the project has received significant interest from businesses since announcing Open Standard and Open USD earlier this summer.
Abrams wrote that stablecoins were meant to be a better version of the U.S. dollar, but most companies still treat them as a place to store assets rather than a tool for payments and transactions.
He said that when businesses move idle funds around on a short-term basis, each redemption often comes with a 5 to 10 basis point charge, and that cost can outweigh the return. He also said U.S. fintech companies still maintain parallel fiat and stablecoin systems because fiat fees are fixed and reserves can be invested in money market funds.
How Open USD plans to structure incentives
According to Abrams, Open Standard wants to reward usage rather than assets under management and plans to pass as much reserve yield as possible to developers that integrate Open USD.
He added that the project will charge developers a small transaction fee and measure the company by transaction volume. Open USD also will not impose the burn or redemption fees that are common among other stablecoins.
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