According to reports on July 2 from international media and the cryptocurrency industry, the Open Standards consortium recently announced the unveiling of the dollar-pegged stablecoin OUSD, with plans for a launch later this year.
The Open Standards consortium includes over 140 companies, featuring global payment and financial giants such as Visa and Mastercard. South Korean participants include Dunamu, Samsung Electronics, Shinhan Financial Group, Kakao Bank, K Bank, Hyundai Card, KB Kookmin Card, BC Card, Hana Card, Samsung Card, Woori Card, NH Nonghyup Card, and Hanwha Life.
OUSD is designed to be pegged to the U.S. dollar at a 1:1 ratio. Unlike existing stablecoins such as Tether (USDT) and Circle (USDC), which are operated by specific issuers, OUSD aims to create an open network with participation from various companies.
The Open Standards consortium stated that its goal is to reduce the costs and technical barriers companies face when adopting stablecoins, thereby expanding the use of global digital tokens.
Jack Abrams, interim CEO of Open Standards, remarked, "While existing stablecoins are excellent, a more open, cost-effective structure with high processing efficiency and accessibility is necessary for widespread corporate adoption."
* This article has been translated by AI.
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