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Open USD partners list disputed: Korean firms deny involvement
Open USD claimed 149 partnerships at launch, but multiple Korean companies (Samsung, Shinhan, Dunamu, K Bank) said they never agreed. The controversy casts doubt on the stablecoin's consortium claims.
Heat
116
Confidence
85%
Evidence
8
Updated
Why It Happened
Open Standard CEO Zach Abrams announced 140+ partners; Chosun Biz and user @jayc_BM reported denials from listed Korean firms.
Actors
OPOpen Standardproject
Zach AbramsCo-Founder · BridgeZach Abrams is Co-Founder at Bridge, formerly VP Product at Brex, Head of Product - Consumer at Coinbase. He has founded Evenly, acq by Square.
SASamsung Electronicslisted partner (disputed)
SHShinhanlisted partner (disputed)
DUDunamuLeading South Korean crypto exchange operator
Dunamu is the operator of Upbit, one of the largest cryptocurrency exchanges in South Korea.
K K Banklisted partner (disputed)
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Parent event 02
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Parent event 03
Korean firms deny formal partnership
@jayc_BM tweets that Samsung, Shinhan, Dunamu, K Bank say they never agreed; some were only asked about participation.
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Parent event 05
Open USD launches with claimed 149 partners
Open Standard announced OUSD stablecoin with 140+ partners including Visa, Mastercard, BlackRock, and Korean firms.
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