Danal Joins Open Standard Consortium to Pursue Stablecoin Payments, Settlement

Danal is joining the global stablecoin consortium Open Standard as it moves to introduce dollar-based stablecoin payments and settlement.

The company said it will participate in the Open Standard ecosystem and collaborate on Open USD, or OUSD, a dollar-based stablecoin, according to an Aug. 21 report by Asia Economy.

Open Standard is a consortium of more than 140 companies, including Visa, Mastercard, Stripe, Samsung Electronics and Google. The group is working to build digital financial infrastructure based on OUSD for settlement and fund transfers between institutions.

Danal plans to connect its existing payments infrastructure with the stablecoin ecosystem through the partnership. It intends to gradually introduce OUSD-based payment and settlement functions across its domestic merchant network and payments infrastructure.

OUSD is designed so the consortium's board, rather than a single institution, determines its operating direction. The stablecoin is slated to be issued on major blockchain networks including Solana and Base, and Danal plans to expand its use into cross-border payments and crypto settlement.