openstandard

⚡ Launching a Suspicious Coin: More Than 140 Partners in the OUSD Project
💰 Company #OpenStandard announced the launch of the stablecoin OUSD on June 30, with more than 140 global partners, including Visa, Mastercard, Google, BlackRock, and Stripe.
📊 The idea of #OUSD is based on creating a stablecoin for individuals and companies for payments, where participants can issue and redeem OUSD without fees or restrictions, with reserve income distributed among partners.
🚨 But there’s a problem: some companies found out about their partnership through the news.
💼 Korean companies such as Samsung Electronics, Shanhhan for Financial Services, and Donamo, along with more than 10 other firms, said there had been no formal negotiations with them.
🗣 Samsung Electronics stated: "There were no official consultations, and we do not know what role we are supposed to play".
📨 Simply, Shanhhan and Donamo companies and K Bank received a message asking about their willingness to participate, replied cautiously, and then saw their names on a long list of partners in Open Standard.

Circle drops 8% when a new stablecoin competitor backed by Stripe, Coinbase, and BlackRock is announced

- The value of Circle, the company behind the stablecoin USDC, fell 8% after news about a new competing stablecoin network.
- The new network, named Open Standard, launched with the stablecoin Open USD (USD+).
- Notably, Open Standard has backing from industry giants such as Stripe, Coinbase, and BlackRock.
- The goal of Open USD is to let partners earn returns from reserves and eliminate minting fees, creating a model that directly competes with Circle’s USDC.
- This move is seen as a major challenge to Circle’s position in the stablecoin market.
#Stablecoin #USDC #Circle #OpenStandard #CryptoNews BinanceSquare

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Source: CoinDesk