[Coinbase, Visa, and Four Other Companies Become Founding Partners of Open Standard, Receiving Equal Initial Equity Shares] BlockBeats News, September 30 — Open Standard CEO Zach Abrams stated that the company is not a coalition governed by hundreds of participants. Day-to-day operations are managed by the leadership team, while a smaller group of founding partners holds ownership and governance responsibilities. Other partners are 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 shares. The five companies have also committed to investing over $1 billion in the coming months to establish liquidity for OUSD. Specific investment amounts and equity proportions for each company have not yet been disclosed. These five companies are currently the sole investors in Open Standard. Abrams anticipates that the number of founding partners will 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 recent additions including SBI Holdings, UBS, and fintech company Jeeves. [Original Link]