Open Standard added $794 million in Open USD (OUSD) to its market capitalization over 30 days, the largest gain recorded by a stablecoin issuer, according to Token Terminal data. Launched on September 30, 2026, OUSD is deployed simultaneously on Ethereum, Base, Solana and Tempo, with an initial market capitalization of approximately $468 million to $477 million before exceeding $800 million in mid-October. About 64% of its supply, representing more than $500 million, was on Tempo by late October. The stablecoin is designed for payments and programmable finance, can be swapped for U.S. dollars at a 1:1 ratio, and has reserves held at BlackRock, Lead Bank and BNY Mellon. The consortium includes Coinbase, Mastercard, Shopify, Stripe and Visa, which each hold equal equity stakes, while initial liquidity commitments exceeded $1 billion.
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