- Several firms deny formally joining Open USD.
- Companies say they never approved participation.
- Open USD plans to launch later this year.
- The stablecoin aims to share reserve revenue with partners.
Several major South Korean companies, including Samsung Electronics and crypto exchange operator Dunamu, say they were listed as members of the Open USD (OUSD) stablecoin consortium without formally agreeing to participate.
According to local reports, some companies said Open Standard had only asked whether they would consider participating, while others claimed they first learned they had been listed through media coverage.
Open Standard recently unveiled OUSD, a stablecoin backed by more than 140 companies including Visa, Mastercard, BlackRock, and Coinbase. The project plans to distribute most reserve revenue to participating businesses rather than keeping the earnings itself.
Under the proposed model, partners will be able to mint and redeem OUSD without fees while sharing in the income generated from reserve assets.
The reports raise questions about how some consortium members were presented ahead of the stablecoin's planned launch later this year.
