USDfvsOUSD
Falcon USD vs Open USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDf — Falcon USD
OUSD — Open USD
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
OUSD held the tighter band: worst deviation 3 bps against 46 bps.
Key differences
- USDf is roughly 2.4× larger than OUSD by USD circulation value ($1.65B vs $698.8M).
- USDf ranks #13 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.
- USDf is a crypto-backed stablecoin; OUSD is fiat-backed. Different mechanism, different failure modes.
- OUSD is deployed on 4 chains — much broader coverage than USDf's 2.
- Primary chain differs — most USDf supply lives on Ethereum, while most OUSD supply is on Tempo.
Full comparison table
| Metric | USDf | OUSD |
|---|---|---|
| USD circulation value | $1.65B | $698.8M |
| Rank (by USD value) | #13 | #17 |
| Peg | USD | USD |
| Mechanism | crypto-backed | fiat-backed |
| Backing | Delta-neutral (Falcon) | — |
| Chains deployed | 2 | 4 |
| Primary chain | Ethereum | Tempo |
| Issuer | Falcon Finance | — |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDf and OUSD?
Both track USD, so they compete for the same use cases. We track no published reserve breakdown for either coin. USDf ranks #13 by USD value and OUSD ranks #17.
Which is bigger, USDf or OUSD?
USDf is larger, with $1.65B in circulation vs $698.8M for OUSD. That's roughly 2.4× the size.
Is USDf 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. USDf uses a crypto-backed model; OUSD uses a fiat-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDf and OUSD?
Yes. USDf 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 USDf or OUSD?
The right choice depends on your use case. Consider: which chain do you need? USDf is available on 2 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.