Danal Becomes First Korean PG Firm to Join 'Open USD'... Targets Global Stablecoin Payment Market

Danal has become the first domestic payment gateway (PG) company in Korea to join the global stablecoin ecosystem, embarking on a strategy to target the digital asset payment market.

Danal announced on the 21st that it has officially joined the global "Open Standard" ecosystem and become a core participant in the USD-pegged stablecoin "Open USD (OUSD)."

The Open Standard is a consortium promoted through joint governance by over 140 global companies, including Visa, Mastercard, Stripe, Samsung Electronics, and Google. It aims to establish a new digital finance standard through OUSD, a neutral payment asset for inter-institutional digital fund transactions and transfers.

In Korea, while banks and card companies are participating as Open Standard partners, Danal is the only payment gateway company to have joined the consortium, according to the company.

Danal plans to leverage this participation to strengthen its role as a bridge between the existing payment infrastructure and the global stablecoin ecosystem. The company intends to gradually introduce OUSD-based payment and settlement functions across its domestic merchant network and payment infrastructure.

OUSD operates under a governance structure managed by the consortium’s board, rather than a single issuing institution. Furthermore, since it is scheduled to launch natively on major blockchain networks such as Solana and Base, the company expects it will enhance interoperability between traditional financial infrastructure and blockchain networks.

It is especially anticipated to have significant potential in cross-border payments and digital asset settlement. Danal’s strategy is to expand the use cases of OUSD by leveraging its existing merchant network and payment technology accrued through its PG business.

Cooperation with global corporations is also expected to strengthen. The Open Standard ecosystem includes not only Samsung Electronics but also Visa, Mastercard, Stripe, Google, and other global big tech and financial/payment companies. Through its participation in the ecosystem, Danal aims to expand business opportunities in the global digital asset payment market.

A representative from Danal stated, "Danal's participation as the first domestic PG company in the Open Standard ecosystem marks a significant milestone, connecting traditional and next-generation digital finance and positioning Danal as a rule maker in the global stablecoin market." He added, "In accordance with future legislation, we will proactively introduce OUSD to Danal’s vast network of merchants and partners, providing payment services that meet global standards."

He continued, "We aim to lead the expansion of blockchain-based financial services worldwide, with a focus on Asia."

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