OUSD vs USDB
Open USD and USDBridge, compared on the things that decide whether you get your dollar back. Live data, updated continuously.
30-day peg gap and OUSD/USDB spread
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Open USD is a dollar-denominated token tracked across 4 chains. No verified issuer disclosure is on file, so its collateral and legal structure score conservatively.
Verdict band: Adequate
USDBridge is a dollar-denominated token tracked across 1 chains. No verified issuer disclosure is on file, so its collateral and legal structure score conservatively.
Verdict band: Adequate
| Safety scoreComposite of collateral, peg, liquidity, issuer and track record. | ●●●●●5 of 5 | 64 | 61 | OUSD |
|---|---|---|---|---|
| Collateral qualityWhat actually backs the token, and how liquid that backing is. | ●●●●●5 of 5 | 55 | 55 | Tie |
| Exit liquidityWhether you can leave at size without moving the price. | ●●●●●5 of 5 | $32.78M | $3.80M | OUSD |
| Issuer & legal standingRegulatory perimeter, disclosure quality and redemption rights. | ●●●●4 of 5 | 48 | 48 | Tie |
| Peg tightness (live)Absolute distance from $1.00 right now — smaller is better. | ●●●●4 of 5 | +0.002% | 0.000% | USDB |
| Worst recorded depegHow badly the token has broken before, as a stress precedent. | ●●●●4 of 5 | None recorded | None recorded | Tie |
| Track recordYears live and behaviour through past stress events. | ●●●●4 of 5 | 53 | 53 | Tie |
| Scale / market capBigger float usually means broader venue support and tighter spreads. | ●●●3 of 5 | $665.22M | $86.08M | OUSD |
| Chain reachNumber of networks where the token is natively deployed. | ●●●3 of 5 | 4 chains | 1 chains | OUSD |
| Best available yieldUpside — but every extra point above T-bills is paid for with risk. | ●●2 of 5 | 6.50% | None | OUSD |
"Matters" is our weighting of how much each dimension typically drives a real allocation decision. Sort any column to re-rank the tradeoffs by what matters to you.
The short answer
OUSD scores higher on safety (64 vs 61), driven mainly by collateral quality and disclosure. OUSD has deeper tracked liquidity ($32.78M), which is what determines whether you can exit at size. OUSD currently earns up to 6.50% — remember that any rate above the T-bill yield is payment for a risk.
If both are fiat-reserve tokens, note that holding both is not diversification: they share the same short-dated Treasury and banking exposure. Genuine diversification means mixing collateral structures.
Which one fits your goal: OUSD or USDB?
Capital preservation over everything else.
For park cash safely, OUSD edges out USDB — but it is close enough that either works.
- Safety score 64 vs 61, with collateral rated 55/100.
- Current peg deviation 0.002% against 0.000% for USDB.
- No material depeg recorded for OUSD in our incident log.
Concentrating in one issuer is a single point of failure regardless of score. Split across collateral structures.
Key risks, side by side
OUSD
- Issuer and banking risk: reserves sit with Undisclosed under Not documented rules.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Limited public attestation of reserves.
- Yield venue risk: 6.50% is earned outside the token itself.
- Chain concentration: 71% of supply sits on Tempo.
USDB
- Issuer and banking risk: reserves sit with Undisclosed under Not documented rules.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Limited public attestation of reserves.
- Chain concentration: 100% of supply sits on Tempo.
| Metric | OUSD | USDB |
|---|---|---|
| Category | Stablecoin | Stablecoin |
| Issuer | Undisclosed | Undisclosed |
| Jurisdiction | Not documented | Not documented |
| Collateral | fiat-backed | fiat-backed |
| Peg mechanism | fiat-backed | fiat-backed |
| Attestation | none | none |
| Redemption | market-only | market-only |
| Price | $1.0000 | $1.0000 |
| Peg deviation | +0.002% | 0.000% |
| Market cap | $665.22M | $86.08M |
| 7d supply change | 0.00% | +1.31% |
| Liquidity | $32.78M | $3.80M |
| Best yield | 6.50% (origin-dollar · Ethereum) | None |
| Chains | 4 | 1 |
| Launched | — | — |
| Worst recorded depeg | None recorded | None recorded |
Spread, peg gap and switching cost
- Price spread (OUSD vs USDB)
- +0.2 bps
- $1.0000 vs $1.0000
- Peg deviation gap
- 0.002 pp
- OUSD +0.002% · USDB 0.000%
- Yield spread
- +6.50%
- OUSD 6.50% · USDB —
- Liquidity ratio
- 8.64×
- $32.78M vs $3.80M
A round trip between OUSD and USDB costs roughly the market spread plus venue fees. At 0.2 bps of price gap, swapping $1M implies about $19.02 of price impact before fees — usually only worth it if the peg gap or yield spread is durable, not intraday noise.
Chain coverage
OUSD is live on 4 chains, USDB on 1. 1 chains carry both, so bridging is only unavoidable for the 3 networks where just one of them is deployed.
| Chain | OUSD | USDB | Both available |
|---|---|---|---|
| $471.81M | $86.08M | Yes | |
| $68.01M | — | OUSD only | |
| $65.02M | — | OUSD only | |
| $60.38M | — | OUSD only |
OUSD vs USDB: frequently asked questions
Is OUSD or USDB safer?
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On our composite safety score OUSD rates 64/100 versus 61/100 for USDB. The score weighs collateral quality (fiat-backed vs fiat-backed), redemption rights, attestation quality, peg history and liquidity depth. A higher score is not a guarantee: both remain issuer-credit and smart-contract exposures, not insured bank deposits.
What is the difference between OUSD and USDB?
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Open USD is issued by Undisclosed (Not documented), backed by fiat-backed, with redemption terms: market-only. USDBridge is issued by Undisclosed (Not documented), backed by fiat-backed, with redemption terms: market-only. Attestation coverage is "none" for OUSD and "none" for USDB.
Which has the bigger market cap, OUSD or USDB?
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OUSD is larger at $665.22M in circulating supply, against $86.08M for the other. Over the last 7 days supply moved 0.00% for OUSD and +1.31% for USDB.
Are OUSD and USDB trading at $1.00 right now?
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OUSD trades at $1.0000 (+0.002% off peg) and USDB at $1.0000 (0.000% off peg). The gap between the two is about 0.2 basis points, which is the cost you pay when rotating size between them before fees.
Has OUSD or USDB ever depegged?
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OUSD: no material depeg recorded in our incident set. USDB: no material depeg recorded in our incident set. Past peg behaviour under stress is the single best available proxy for how a token trades in the next crisis.
Which is better for large institutional size, OUSD or USDB?
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For block size the constraint is exit liquidity and primary redemption, not headline supply. OUSD shows deeper on-chain liquidity at $32.78M versus $3.80M. Combine that with the redemption channel — OUSD: market-only; USDB: market-only — and size trades against the primary window rather than the order book where possible.
Can I earn yield on OUSD or USDB?
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OUSD currently shows the higher rate at 6.50% via origin-dollar · Ethereum, against no tracked rate for USDB. Neither token pays interest by holding it in a wallet: the yield comes from lending, liquidity provision or a wrapped yield-bearing version, each with its own counterparty and contract risk.
Which chains support both OUSD and USDB?
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Both are deployed on 1 shared network, including Tempo. OUSD spans 4 chains in total and USDB spans 1. Bridged supply on a chain is not the same as natively issued supply, and it usually carries the bridge's risk rather than the issuer's.
What does it cost to switch from OUSD to USDB?
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Budget three components: the current price spread of roughly 0.2 bps, swap or venue fees, and slippage against available depth ($32.78M for OUSD, $3.80M for USDB). For meaningful size, redeeming with the issuer and minting the other side is often cheaper than a secondary-market swap.
Is OUSD or USDB regulated?
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OUSD is issued from Not documented with none; USDB is issued from Not documented with none. Regulatory status varies by your own jurisdiction and by whether the token is offered under a specific stablecoin regime, so treat this as a starting point for diligence, not legal advice.