Global Stablecoin Launch Imminent with Participation from Samsung Electronics and Shinhan Financial Group

Over 140 Global Companies Form Alliance
"OpenUSD" Launched

A dollar stablecoin involving global conglomerates will be issued, with leading Korean companies such as Samsung Electronics and Shinhan Financial Group also joining the initiative.

On June 30 (local time), the global stablecoin coalition OpenStandard announced a dollar-based stablecoin called OpenUSD (OUSD). OUSD is scheduled to launch in the second half of this year.

This coalition includes participation from more than 140 companies, such as Visa, Mastercard, and BlackRock. Individual issuers like Tether and Circle are not participating. Korean participants include Samsung Electronics, Hanwha Group, Dunamu, Shinhan Financial Group, K Bank, KakaoBank, KB Kookmin Card, Samsung Card, BC Card, Hana Card, Hyundai Card, NH Nonghyup Card, and Woori Card. International participants include BBVA, BNY, BVNK, American Express, Anchorage, Coinbase, Crypto.com, DBS, Google, IBM, Mizuho, MoonPay, OKX, Rakuten Group, Ripple, Standard Chartered, Stripe, and Sumitomo Mitsui, among others.

OpenStandard promotes an open infrastructure that is not operated by a single company but is collectively used by companies with real payment, remittance, and settlement needs. Participating companies can issue and redeem OUSD free of charge, and profits generated from reserve assets—after deducting a small management fee—will be distributed to the participants. OpenStandard will oversee operations and adopt a joint governance structure centered on partner companies.

OpenStandard will be led by founding CEO Jack Abrams. CEO Abrams is the co-founder of Bridge, a stablecoin infrastructure company acquired by Stripe.

This content was produced with the assistance of AI translation services.