TechFlow news, July 03, according to Chosun Biz, Open Standard announced the launch of the US dollar stablecoin Open USD (OUSD), and plans to go live within the year, stating that more than 140 financial and payment-related institutions, including Visa, Mastercard, BlackRock, Samsung Electronics, Dunamu, Hanwha, etc., are participating.
However, multiple South Korean enterprises stated that they had not previously conducted formal negotiations with the issuer, some institutions only responded that they could evaluate again after the project matures, but were subsequently listed as alliance members.
OUSD plans to adopt an open joint operation model, allowing participants to issue and redeem at a rate of 1 USD for 1 OUSD, and will distribute reserve earnings to network partners after deducting a small management fee. The market believes that this model may intend to challenge the dominance of Tether and USDC in the US dollar stablecoin market.
