Open Standard Launches OUSD Stablecoin Across Four Chains with Unclear Liquidity
Open Standard has launched its OUSD stablecoin on four chains: Ethereum, Solana, Base, and Tempo. The launch gives OUSD a presence across multiple networks, but the practical question is whether these chains offer enough liquidity to support real payments.
The evidence so far suggests that distribution is strong, with Stripe launching OUSD support across its Treasury, Issuing, Global Payouts, Crypto Onramp, and Payments products. This gives businesses a way to use OUSD for receiving, holding, sending, and spending funds through Treasury, operating global card programs, and paying recipients overseas.
Stripe also says that OUSD has no minting or burning fees, and businesses may receive rewards based on activity, including balances held through Stripe. Finance platform Ramp plans to use Stripe for stablecoin accounts that hold OUSD, while Bridge orchestration APIs can convert OUSD into fiat or other stablecoins.
However, the liquidity of OUSD on each chain is unclear. Solana offers a high-speed network outside of Stripe's default configuration, but early supply was only 18.01 million tokens across 47 wallets as of September 30th. By contrast, USDC on Solana had 7.86 billion tokens across 9.31 million wallets two minutes later.
Open Standard has not released the total supply split among its four networks, making it difficult to compare the depth of OUSD markets on each chain. The company also publishes monthly reserve attestations, which allow users to examine the reported reserve position rather than rely only on Open Standard's claims.