Samsung · South Korea · Stripe · Crypto Briefing
Samsung, Shinhan, Dunamu deny joining OUSD stablecoin alliance: Report
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Shinhan Financial Group, Dunamu and KBank said they only engaged in preliminary discussions.
Key facts
- Open Standard, led by Bridge co-founder Zach Abrams, on Tuesday unveiled OUSD, with backing from more than 140 payments and financial giants such as BlackRock, Visa, Stripe, Google, Coinbase and DBS
- The group listed several South Korean firms, including Samsung Electronics, Dunamu, Shinhan Financial Group and KBank, among its participants
- Shinhan Financial Group, Dunamu and KBank said they only engaged in preliminary discussions
- However, these companies said they had not entered into formal agreements with Open Standard
Summary
Several South Korean companies, including Samsung Electronics and Shinhan Financial Group, said they never formally agreed to join the Open USD (OUSD) stablecoin consortium after being named as partners, with some saying they had only expressed a willingness to review the proposal, Chosun Biz reported Friday. Open Standard, led by Bridge co-founder Zach Abrams, on Tuesday unveiled OUSD, with backing from more than 140 payments and financial giants such as BlackRock, Visa, Stripe, Google, Coinbase and DBS. The group listed several South Korean firms, including Samsung Electronics, Dunamu, Shinhan Financial Group and KBank, among its participants. However, these companies said they had not entered into formal agreements with Open Standard.