Open Standard's OUSD stablecoin reached a $666.3 million market capitalization as of October 5, maintaining its $1.00 peg since its September 30 launch. The circulating supply stands at approximately 666.3 million tokens.
On-chain data shows Tempo chain accounts for 472.8 million tokens, or 71 percent of total supply. Solana hosts 68.01 million tokens (10 percent), Base holds 65.02 million tokens (10 percent), and Ethereum contains 60.45 million tokens (9 percent).
Cumulative transfer volume across all chains reached $2.6 billion, with Tempo alone processing $1.19 billion since debut.
OUSD maintains 100 percent reserve coverage with $666.3 million in assets: $588.2 million in U.S. Treasury securities and $78.03 million in U.S. dollar cash. BlackRock, Lead Bank, and BNY serve as custodians.
Bridge, a Stripe-acquired stablecoin infrastructure company, issues OUSD. Bridge co-founder and Open Standard CEO Zach Abrams leads the project, which launched June 30 with founding partners Coinbase, Mastercard, Shopify, Stripe, and Visa each holding equal equity stakes. The partners committed over $1 billion toward initial liquidity.
OUSD offers fee-free minting and redemption through direct integrations with Stripe and Visa. Coinbase extended this integration on October 1. Reserve earnings distribute to partners based on usage driven, after a management fee.
The stablecoin is listed on Coinbase, Kraken, and Uniswap with 554 total holders. OUSD targets enterprise use cases including banking, cross-border payments, and financial settlement, competing in a stablecoin market exceeding $300 billion dominated by Tether's USDT and Circle's USDC.
