Tempo, a Layer 1 blockchain incubated by Stripe and Paradigm, saw its aggregate stablecoin market cap surge by approximately $450 million, or 161%, in a single week, reaching around $729 million. This growth was driven by the launch on September 30, 2026, of Open USD (OUSD), a stablecoin now carrying a market cap of $471.72 million, representing 64.7% of Tempo’s total. OUSD reserves are held at BlackRock, Lead Bank, and BNY Mellon, with support from Coinbase, Stripe, and Visa. The project raised $500 million in a Series A round in October 2025, valuing the company at $5 billion.
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