USDGvsOUSD
Global Dollar vs Open USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDG — Global Dollar
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 3 bps of target across the same window.
Key differences
- USDG is roughly 4.4× larger than OUSD by USD circulation value ($3.08B vs $698.8M).
- USDG ranks #7 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.
- USDG reports cash reserves (paxos) in reserve. We do not track a published reserve breakdown for OUSD.
- Chain coverage is comparable: USDG on 6 chains, OUSD on 4.
- Primary chain differs — most USDG supply lives on X Layer, while most OUSD supply is on Tempo.
Full comparison table
| Metric | USDG | OUSD |
|---|---|---|
| USD circulation value | $3.08B | $698.8M |
| Rank (by USD value) | #7 | #17 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash reserves (Paxos) | — |
| Chains deployed | 6 | 4 |
| Primary chain | X Layer | Tempo |
| Issuer | Paxos Trust Company | — |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDG and OUSD?
Both track USD, so they compete for the same use cases. USDG holds cash reserves (paxos). We track no published reserve breakdown for OUSD. USDG ranks #7 by USD value and OUSD ranks #17.
Which is bigger, USDG or OUSD?
USDG is larger, with $3.08B in circulation vs $698.8M for OUSD. That's roughly 4.4× the size.
Is USDG 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 USDG and OUSD?
Yes. USDG 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 USDG or OUSD?
The right choice depends on your use case. Consider: which chain do you need? USDG is available on 6 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.