Yes

>>Samsung, Dunamu, and other Korean companies have affirmed they have no formal involvement in the Open USD alliance.

Samsung, Dunamu, and other Korean companies have affirmed they have no formal involvement in the Open USD alliance.

crypthub

7/3/2026, 2:50:31 PM

Open USD Formation and Korean Participation

The Open USD consortium was announced on June 30th, naming over 140 partners including major financial institutions like Visa and Mastercard. Thirteen South Korean companies were featured among these partners. These included major firms such as Samsung Electronics, Shinhan Financial Group, and KakaoBank. The alliance was presented as a significant competitor to established stablecoins.

Denials Regarding Partnership Involvement

Multiple South Korean firms questioned their official involvement in the alliance. Several companies stated they had not held formal discussions about Open USD. They claimed they only learned of their inclusion through news reports. This lack of formal communication drew scrutiny regarding the alliance's transparency.

Market Impact and Industry Reassurance

The revelations significantly impacted Open USD's credibility and marketing efforts. This news caused a notable dip in Circle’s stock price. However, Circle CEO Jeremy Allaire affirmed the stability of key relationships. He emphasized that the stablecoin partnership with Coinbase remains strong.

Samsung, Dunamu, and other Korean companies have affirmed they have no formal involvement in the Open USD alliance.

Open USD Formation and Korean Participation

Denials Regarding Partnership Involvement

Market Impact and Industry Reassurance

Samsung, Dunamu, and other Korean companies have affirmed they have no formal involvement in the Open USD alliance.