Stablecoin governance group behind OUSD sets out management fee, offers equity earning pool
Source: CoinDesk ·
From the source
Governance group Open Standard will charge a 0.1 basis point management fee on payment volume, capped at at $0.01 per payment. OpenUSD (OUSD), the new consortium-based stablecoin introduced earlier this year by Stripe, Visa, Mastercard, Coinbase and Shopify, will charge a 0.1 basis point management fee on payment volume, capped at at $0.01 per payment, according to private documents seen by Coindesk. The OUSD fees are paid to Open Standard, the company behind the stablecoin whose initial founding partners are Stripe, Visa, Mastercard, Coinbase and Shopify, and who have each committed $1 billion-plus in near term launch liquidity. “Payments of $1,000 or more pay the $0.01 cap. Smaller payments pay 0.1 bp of the amount,” according to the documentation. To move $1 million, for instance, at a fee of 0.1 bp might have incurred a $10 charge, but this is capped at the $0.01 rate, the document states. OUSD is meant to make cross-border settlement painless and reduce fiat currency conversions…