Key Highlights
- Ramp has partnered with Open Standard to power its Stablecoin Accounts with Open USD (OUSD), allowing businesses to earn rewards on stablecoin balances and make payments around the clock.
- Businesses can use their OUSD balances to fund payments to vendors and contractors in more than 140 countries.
- Open Standard shares nearly all reserve income with its partners and allows them to mint and redeem OUSD at a 1:1 ratio with US dollars at no cost.
Ramp, a financial operations platform serving more than 85,000 businesses, has partnered with Open Standard to power its Stablecoin Accounts using Open USD (OUSD). The adoption allows businesses to hold a USD stablecoin balance within Ramp, earn rewards and fund payments without relying on traditional banking hours, Customers can access these capabilities alongside the platform’s existing spend management, payment and accounting tools, without managing a separate exchange or wallet workflow.
The alliance also brings Open Standard’s reserve-income sharing model into Ramp’s stablecoin offering, creating an arrangement in which the platform and its business customers can benefit from the revenue generated by stablecoin reserves.
How Will Ramp’s Alliance With Open Standard Benefit Businesses?
Under the partnership, Ramp Stablecoin Accounts will use OUSD as the underlying stablecoin while presenting businesses with a single USD-denominated balance. Businesses holding stablecoins on Ramp can earn rewards from the platform, supported by Open Standard’s model of sharing nearly all reserve income with its partners. This allows Ramp to offer competitive rewards while keeping the stablecoin experience integrated with its existing financial operations services.
The integration also supports payments to vendors and contractors in more than 140 countries, with businesses able to fund transactions directly from their stablecoin balances at any time. According to Ramp, more than 70% of its stablecoin payment volume already takes place outside traditional banking hours. Stablecoins can therefore help businesses avoid delays associated with bank wire cut-off times, correspondent banking arrangements and weekend closures.
Customers can manage their stablecoin balances alongside Ramp cards, bill payments and accounting services. They can send and receive OUSD without setting up a separate exchange account or introducing another wallet and accounting process. The integration is intended to bring stablecoin holdings and payments into the same system businesses already use to manage their finances.
OUSD also has a growing network of institutional and commercial partners. Open Standard’s founding partners include Coinbase, Mastercard, Shopify, Stripe and Visa, while more than 200 financial institutions, fintech companies, banks and global businesses are adding OUSD to their platforms. As adoption expands, Ramp customers are expected to gain more opportunities to send and receive OUSD directly across participating platforms without first converting between different stablecoins.
Why Did Ramp Choose Open USD for Its Stablecoin Accounts?
Ramp said its decision to work with Open Standard reflects the growing strategic importance of stablecoins as customer balances increase. Traditional stablecoin issuers generally retain the income generated by their reserves, meaning businesses holding those stablecoins do not directly benefit from that revenue. Some issuers also charge fees for minting or redeeming tokens, adding to the cost of using stablecoins.
Open USD is designed around a different partner model. Open Standard shares nearly all income generated by its reserves with the partners that hold and distribute OUSD. It also allows partners to mint and redeem the stablecoin at a 1:1 ratio with US dollars without fees. According to the companies, this arrangement provides access to liquidity while allowing Ramp and its business customers to retain more of the economic value associated with their stablecoin activity.
The partnership also aims to bring together businesses’ traditional financial operations and on-chain payment activity. Companies that already use stablecoins for treasury management and payments often operate separate systems for on-chain funds and conventional financial activities such as payroll, cards and vendor payments. Ramp and Open Standard aim to reduce that separation by bringing stablecoin balances, payments and accounting into one platform.
Andrew Chapello, Product Lead at Ramp, said the partnership combines round-the-clock payments, competitive economics, liquidity and a growing partner ecosystem to make money movement more effective for customers. Open Standard CEO Zach Abrams said Ramp’s integration allows customers to benefit from OUSD without needing to manage the underlying stablecoin themselves.
Open Standard also says its structure is designed so that no single partner controls the network. As more institutions adopt OUSD, the stablecoin becomes usable across a wider range of platforms, potentially increasing its utility for businesses. For Ramp customers, the companies see this expanding network as an opportunity to use stablecoins for more everyday financial activities while managing their finances through a single platform.
Also Read: Stripe Pushes Stablecoins Mainstream with New Banking Charter Bid
