Tempo stablecoin supply jumps 161% in a week after Open USD launch
In brief
- Tempo's stablecoin market cap rose about $450 million, or 161%, in one week, per DefiLlama.
- Total stablecoin supply on Tempo reached around $729 million.
- Open USD (OUSD), launched September 30, accounts for roughly 64.7% of that supply.
- BlackRock, Lead Bank and BNY Mellon hold OUSD reserves, Crypto Briefing reported.
OUSD now makes up most of the chain's supply
OUSD carries a market cap of approximately $471.72 million, roughly 64.7% of Tempo's total stablecoin market, based on the same DefiLlama data. That's a single token holding nearly two-thirds of the chain's stablecoin supply.
So where's the rest? USDC holds $92.76 million on Tempo, USDBridge accounts for $86.02 million and pathUSD sits at $60.99 million, according to the figures Crypto Briefing cited.
Built for institutions, with big-name custodians
Crypto Briefing reported that OUSD was designed with institutional users in mind from the start. Its reserves are held at BlackRock, Lead Bank and BNY Mellon. The stablecoin charges no fees to mint or redeem, doesn't impose volume caps, and launched with more than $400 million in liquidity across decentralized exchanges and other platforms.
Coinbase, Stripe and Visa already support access to OUSD, per the report.
Mastercard is expected to follow.
A payments chain with no native token
Tempo's mainnet went live on March 18, 2026. Before that, the company raised $500 million in a Series A round in October 2025 at a $5 billion valuation. The chain's built on Ethereum's architecture but optimized for stablecoin payments at enterprise scale, and transaction fees average below $0.001.
There's no native token here (fees are paid in supported stablecoins instead). It's a design that keeps the whole fee layer denominated in the same assets the chain is built to move.
Tempo is also building partnerships with OpenAI and Visa, Crypto Briefing reported, though those agreements haven't been finalized.
Frequently asked questions
What is Tempo?
Tempo is a Layer 1 blockchain incubated by Stripe and Paradigm. It's built on Ethereum's architecture but optimized for enterprise-scale stablecoin payments. Its mainnet launched on March 18, 2026, and it has no native token, so fees are paid in supported stablecoins.
What drove the jump in Tempo's stablecoin supply?
The weekly increase was driven by the launch of Open USD (OUSD) on September 30, 2026. According to DefiLlama data reported by Crypto Briefing, OUSD's market cap is approximately $471.72 million, about 64.7% of Tempo's total stablecoin market of around $729 million.
Who holds Open USD's reserves?
Crypto Briefing reported that OUSD's reserves are held at BlackRock, Lead Bank and BNY Mellon. The stablecoin charges no mint or redemption fees and has no volume caps, and it launched with more than $400 million in liquidity across decentralized exchanges and other platforms.
