Open USD supply on Ethereum tops $100M in its first week

Open USD (OUSD), the new stablecoin issued by Stripe subsidiary Bridge, just had a very good first week on Ethereum. Its market cap on the network climbed from about $10 million to more than $100 million in roughly seven days. The growth was driven largely by minting from the project’s founding partners. That partner list reads like the guest roster at a payments industry gala: Coinbase, Mastercard, Shopify, Stripe and Visa. How OUSD got to $100 million on Ethereum The rise on Ethereum is one piece of a bigger debut. OUSD’s total supply across all chains reached roughly $666 million to $722 million within days of launch. On-chain data put the figure at about $666.3 million by October 5, 2026. Ethereum was not the main stage at first. At launch, 71% of OUSD’s supply lived on the Tempo blockchain, while about 9% sat on Ethereum. Ethereum’s share then grew quickly. Supply on the network went from the low double-digit millions to over $100 million by early October, tracking heavy partner-driven minting. Placements with institutions and market makers added to the climb. Activity numbers also look healthy at first glance. OUSD logged $2.6 billion in transfer volume as of October 5. The t...