Samsung and Dunamu Say OUSD Consortium Listing Came Without Prior Official Talks

TLDR

• Samsung said it had no official consultation before appearing in the OUSD stablecoin consortium disclosure.
• Dunamu, Shinhan, and Kbank said they only agreed to review Open Standard’s earlier participation inquiry.
• Open Standard announced OUSD with Visa, Mastercard, BlackRock, and more than 140 participants this week.
• OUSD participants would mint tokens by depositing dollars directly into Open Standard’s proposed reserve account.
• Reserve revenue would be shared with partners after operating fee deduction, according to Open Standard.

Samsung Electronics, Dunamu, and several other South Korean companies said they had no formal agreement to join the OUSD stablecoin consortium, according to a Chosun Biz report.

The companies were listed in Open Standard’s disclosure for the proposed dollar-pegged OUSD stablecoin, which was announced with more than 140 named participants.

A Samsung Electronics official told Chosun Biz that there had been no official consultation and that the company did not know what role it would have in the project.

The report raises questions over how corporate names were included in the OUSD consortium announcement before some companies had formally agreed to take part.

Korean Firms Question OUSD Listing

Shinhan Financial Group, Dunamu, and Kbank said Open Standard had asked whether they were willing to participate in the stablecoin project. According to the report, those companies responded that they would review the matter, but their names later appeared as consortium members.

One official at an unnamed corporation reportedly said the company was surprised to find itself included after giving only a casual response. The official said the company had indicated it would consider participation if conditions developed favorably.

The responses show that some Korean firms did not view their earlier communication with Open Standard as final consent to join the OUSD stablecoin consortium. Open Standard had announced the group earlier in the week and said OUSD would launch within the year.

Open Standard Outlines OUSD Model

Open Standard described OUSD as a dollar-pegged stablecoin supported by a broad consortium that includes Visa, Mastercard, BlackRock, and more than 140 other participants. The group is not structured as a decentralized autonomous organization or a shareholder-based entity.

Under the proposed model, participating corporations would be able to mint OUSD by depositing dollars into Open Standard’s reserve account. They would also be able to redeem the token for dollars without fees or limits, according to the disclosed structure.

The project’s revenue model differs from stablecoin issuers such as Tether and Circle, which retain income generated from reserve assets. Open Standard said reserve management revenue would be distributed to network partners after deducting a small operating fee.

Stablecoin Market Draws Corporate Attention

The disclosure comes as dollar-backed stablecoins continue to represent one of the largest sectors in digital assets. The total market capitalization of dollar-pegged stablecoins has exceeded $291 billion, according to the data cited in the report.

Tether’s USDT accounts for about $184.3 billion of that market, while Circle’s USDC holds more than $73 billion. These figures show the current concentration of stablecoin activity around a small number of major issuers.

OUSD is being presented as a partner-based stablecoin model that shares reserve-related revenue with network participants. However, the responses from Samsung Electronics, Dunamu, Shinhan Financial Group, Kbank, and other firms indicate that participation status may require further clarification.

Open Standard has not been reported in the supplied material as issuing a public response to the Korean companies’ statements. The situation places attention on how stablecoin consortium announcements are verified before corporate names are listed as members.

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