BlockBeats News, July 3rd. The global stablecoin alliance Open Standard recently announced the launch of the USD stablecoin Open USD (OUSD), with participation from over 140 global financial and payment companies including Visa, Mastercard, BlackRock, Samsung Electronics, Dunamu, and others, planning to go live within the year.

However, several Korean companies have stated that they have not had official negotiations with the issuer of OUSD. A Samsung Electronics official stated: "There have been no official negotiations, and we are not sure what role we would play in the alliance." NewHan Financial Group, Dunamu, K Bank, and others also mentioned that Open Standard had inquired about their interest in participating, to which the companies only responded that they could conduct a simple assessment, but later found their names listed as alliance members.

An industry insider mentioned that they only learned about being included as a member of the OUSD alliance through the news. They casually replied to Open Standard's participation inquiry, stating, "If things go well, we can consider," and expressed confusion about being listed as a member.

OUSD adopts an open infrastructure model, aiming to be collectively operated by companies that actually provide payment, remittance, and settlement services. According to the introduction, participating companies can mint 1 OUSD by depositing 1 USD into the Open Standard reserve account; redeeming 1 OUSD allows them to withdraw 1 USD from the reserve account. Alliance participants can mint and redeem OUSD without fees or limits, and after deducting a small management fee, they plan to distribute reserve utilization yields to network partners. (ChosunBiz)