OUSD Stablecoin Launches on Four Chains, but Liquidity Remains Unclear

Open Standard's OUSD, a dollar-pegged stablecoin, has been launched on four chains: Ethereum, Solana, Base, and Tempo. The launch, which took place on September 30, 2026, gives OUSD a four-chain start, but the practical question for holders is whether these networks offer enough liquidity, reliable redemption, and useful distribution to support real payments.

The evidence so far suggests that distribution is the strongest aspect of OUSD, while liquidity is the weakest. Stripe, a payments company, has launched OUSD support across its Treasury, Issuing, Global Payouts, Crypto Onramp, and Payments products, allowing businesses to use the token for payments. OUSD has also been integrated into the finance platform Ramp, which plans to use Stripe for stablecoin accounts holding OUSD.

However, the launch of OUSD on Solana has been met with a relatively small supply of 18.01 million tokens across 47 wallets. In comparison, USDC on Solana had 7.86 billion tokens across 9.31 million wallets at the same time. The research found no network-specific supply, holder, or liquidity figures for Ethereum and Base, and Open Standard has not disclosed how total supply will divide among its four networks.

Bridge, a Stripe company, issues OUSD, and Open Standard runs the stablecoin. The reserve holders for OUSD include BlackRock, Lead Bank, and BNY, and Bridge publishes monthly reserve attestations, allowing users to examine the reported reserve position. However, the allocation between these reserve holders and the amount of reserves attributable to each chain is not clear.