Samsung and Dunamu are pushing back against the OUSD stablecoin consortium. Their claim? They never agreed to be listed as members.
Multiple Korean firms say they were named as part of the Open USD consortium without prior consultation, according to reports. The stablecoin project, backed by over 140 companies including Visa and Mastercard, launched with a roster of big-name supporters.
It’s unclear if Samsung or Dunamu were formally approached or if their names were included in promotional materials without approval. The situation highlights the messy reality of consortium launches where companies sometimes get listed before they’ve actually signed on.
OUSD is designed to let participants keep the yield from reserve earnings — a different model from Tether or Circle’s approach. Visa, Mastercard, Coinbase, Ripple, OKX, and Bybit are among the confirmed backers. Open Standard plans to roll out OUSD later this year, entering a stablecoin market already worth over $300 billion.
But if marquee names like Samsung are publicly distancing themselves, that could complicate trust in the project before it even launches.
