Open USD (OUSD) launched with approximately $468 million in circulation and a distribution partnership with Stripe, whose network processed $1.9 trillion in 2025, up 34% from the previous year. The reserve is split between $257.2 million in cash and $211.2 million in Treasuries and short-duration money market funds. Stripe processes roughly $158 billion per month, while dominant stablecoins USDT and USDC together account for 84% of the market with capitalizations of $183.8 billion and $74.1 billion respectively. Open Standard has assembled over 200 partner organizations including Stripe, Visa, Mastercard, Coinbase and Shopify, with OUSD representing only 0.15% of the stablecoin sector, illustrating the scale challenge facing the newcomer.
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