Samsung, Shinhan join Open USD stablecoin network

Korean financial institutions have joined a global consortium backing Open USD, a new dollar-pegged stablecoin aimed at business payments and cross-border transactions.

Open Standard, the independent company behind the project, said Tuesday it plans to launch Open USD later this year with support from more than 140 companies spanning payments, banking, asset management, technology and crypto.

Founding participants include major global names such as Visa, Mastercard, Stripe, BlackRock, BNY, Stand ...