Google, Visa, Mastercard, Samsung, Dunamu and other major companies reportedly joined the Open Standard consortium to launch the dollar-backed stablecoin Open USD (OUSD) by the end of the year.
However, many Korean companies stated that no official negotiations took place: they were merely invited to “consider participation,” after which their names appeared on the list of participants. Samsung, Shinhan, Dunamu and Kbank have effectively distanced themselves from the Open Standard statement.
OUSD is positioned as a corporate payment infrastructure where companies can issue and redeem the stablecoin without fees or limits. Unlike Tether and Circle, Open Standard promises to distribute revenue from reserves among its partners, keeping only a small operational fee for itself.
