Samsung, Shinhan, Dunamu deny ties to Open USD stablecoin

Samsung, Shinhan, Dunamu, and KBank deny formal ties to Open USD, stating no official agreements were made despite being listed as partners. The controversy raises doubts about OUSD's claimed coalition.

Several major South Korean companies, including Samsung Electronics, Shinhan Financial Group, Dunamu, and KBank, have denied formally joining the Open USD (OUSD) stablecoin consortium. Despite being listed as partners in the project's launch materials, representatives clarified there were no official consultations or agreements. These firms stated their involvement was limited to reviewing proposals or expressing a general willingness to consider future participation. Some companies even learned of their inclusion through media reports, not direct communication. This controversy highlights a gap between Open Standard's public claims of a broad coalition and the actual commitment from the named partners. The consortium's website still lists these companies as participants, raising questions about the legitimacy of its partnership roster and the true extent of support for the OUSD project.