Open USD Consortium Faces Allegations of Listing Partners Without Consent
The consortium behind Open USD (OUSD), a new stablecoin claiming backing from over 140 companies, faces allegations that many listed partners did not approve their inclusion. Blockmedia’s BD Head Tony Chung reported that Samsung Electronics flatly denied any formal discussions, while Shinhan, Dunamu, and K Bank said they only agreed to ‘consider’ participation—yet found their names listed as consortium members. Tether advisor Gabor Gurbacs confirmed that some partners never signed or agreed to anything, suggesting the participant list is misleading. The Big Whale CEO Raphaël Bloch noted that even companies that posted about joining had no internal awareness of the initiative. Circle CEO Jeremy Allaire commented, ‘Integrity matters,’ likely referencing the controversy. The stablecoin is slated for launch later this year. The allegations raise serious questions about the project’s legitimacy and transparency.