Samsung and Dunamu Reject Inclusion in OUSD Stablecoin Consortium
Samsung Electronics, Dunamu, and other South Korean companies were listed as members of the proposed OUSD stablecoin consortium without official consultation, according to local reports.
Companies Claim No Formal Agreement
A Samsung Electronics official told Chosun Biz that there were no official consultations and the company is unaware of any role it would play.
Shinhan Financial Group, Dunamu, and Kbank said Open Standard only inquired about their interest. They responded that they would review the proposal, but their names were later published as full consortium members.
One unnamed company expressed confusion after giving only a casual reply that it would “consider it if things go well.”
Open Standard’s Announcement
Open Standard announced the consortium earlier this week, planning to launch the dollar-pegged stablecoin OUSD within the year. The group includes major players like Visa, Mastercard, and BlackRock, along with over 140 participants.
The consortium is not structured as a DAO or traditional shareholder company.
How OUSD is Designed to Work
- Participating companies can mint OUSD by depositing dollars into Open Standard’s reserve account.
- They can redeem the token for dollars without fees or limits.
- Revenue from reserve management will be distributed to network partners after a small operating fee — unlike Tether and Circle, which keep investment earnings.
Stablecoin Market Context
The total market capitalization of dollar-pegged stablecoins has surpassed $291 billion. Tether’s USDT dominates with around $184.3 billion, followed by Circle’s USDC at over $73 billion.
