AI TRENDS | Open Standard CEO Says Open USD Will Reward Usage Over Assets Under Management

Open Standard founder and CEO Zach Abrams said the project has received many corporate inquiries about partnerships since announcing Open Standard and Open USD in early summer. He said stablecoins were meant to be a better version of the U.S. dollar, but most companies use them to store assets rather than for transactions. According to Foresight News, Abrams said companies often pay 5 to 10 basis points for each redemption when moving idle funds on short notice, which can outweigh the return, while U.S. fintech firms still maintain separate fiat and stablecoin systems because fiat fees are fixed and reserves can be placed in money market funds. Abrams also said Open Standard will incentivize usage rather than assets under management and will distribute as much reserve yield as possible to developers integrating Open USD. He said the company will charge developers a small transaction fee, measure success by trading volume, and avoid the burn and redemption fees common among other stablecoins.