USDTvsOUSD
Tether vs Open USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDT — Tether
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 8 bps.
Key differences
- USDT is roughly 263.6× larger than OUSD by USD circulation value ($184.19B vs $698.8M).
- USDT ranks #1 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.
- USDT reports cash & t-bills in reserve. We do not track a published reserve breakdown for OUSD.
- USDT is deployed on 130 chains — much broader coverage than OUSD's 4.
- Primary chain differs — most USDT supply lives on Tron, while most OUSD supply is on Tempo.
Full comparison table
| Metric | USDT | OUSD |
|---|---|---|
| USD circulation value | $184.19B | $698.8M |
| Rank (by USD value) | #1 | #17 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills | — |
| Chains deployed | 130 | 4 |
| Primary chain | Tron | Tempo |
| Issuer | Tether Limited | — |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDT and OUSD?
Both track USD, so they compete for the same use cases. USDT holds cash & t-bills. We track no published reserve breakdown for OUSD. USDT ranks #1 by USD value and OUSD ranks #17.
Which is bigger, USDT or OUSD?
USDT is larger, with $184.19B in circulation vs $698.8M for OUSD. That's roughly 263.6× the size.
Is USDT 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 USDT and OUSD?
Yes. USDT 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 USDT or OUSD?
The right choice depends on your use case. Consider: which chain do you need? USDT is available on 130 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.