USDCvsOUSD
USD Coin vs Open USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDC — USD Coin
OUSD — Open USD
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Both held within about 4 bps of target across the same window.
Key differences
- USDC is roughly 106.3× larger than OUSD by USD circulation value ($74.27B vs $698.8M).
- USDC ranks #2 while OUSD ranks #17 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- Both are fiat-backed stablecoins, so the mechanism is not what separates them.
- USDC reports cash & t-bills in reserve. We do not track a published reserve breakdown for OUSD.
- USDC is deployed on 157 chains — much broader coverage than OUSD's 4.
- Primary chain differs — most USDC supply lives on Ethereum, while most OUSD supply is on Tempo.
Full comparison table
| Metric | USDC | OUSD |
|---|---|---|
| USD circulation value | $74.27B | $698.8M |
| Rank (by USD value) | #2 | #17 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills | — |
| Chains deployed | 157 | 4 |
| Primary chain | Ethereum | Tempo |
| Issuer | Circle | — |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDC and OUSD?
Both track USD, so they compete for the same use cases. USDC holds cash & t-bills. We track no published reserve breakdown for OUSD. USDC ranks #2 by USD value and OUSD ranks #17.
Which is bigger, USDC or OUSD?
USDC is larger, with $74.27B in circulation vs $698.8M for OUSD. That's roughly 106.3× the size.
Is USDC safer than OUSD?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. Both use a fiat-backed model, so the difference sits in the issuer and the reserves rather than the design. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDC and OUSD?
Yes. USDC and OUSD both trade on major centralized and decentralized exchanges. Since both track USD, the exchange rate is typically very close to 1:1. Direct swap protocols on Ethereum, Solana, and other chains offer the tightest spreads.
Should I choose USDC or OUSD?
The right choice depends on your use case. Consider: which chain do you need? USDC is available on 157 chains and OUSD on 4. What backing do you prefer? What's your integration surface (exchanges, DeFi protocols, payment providers)? Both have deep liquidity, so market cap alone shouldn't decide it.