Danal Joins OpenUSD Consortium, Paving Way for Stablecoin Payments in South Korea

South Korean payment gateway company Danal has made a significant move by joining the OpenUSD stablecoin consortium, marking its entry into digital asset payments. This marks a notable development in South Korea's fintech landscape, as it becomes the first domestic payment gateway firm to engage with a global stablecoin standard.

The Open Standard consortium, backed by around 140 global companies including Visa and Mastercard, aims to establish a new digital finance standard through the OUSD (OpenUSD) stablecoin. This neutral payment asset is designed for digital fund settlement and transfers between institutions.

Danal's participation in the consortium aligns with its strategy to integrate cryptocurrency and digital asset payment solutions into its existing services. By joining, Danal gains access to a global network of financial institutions and a shared governance framework, which may help it navigate regulatory challenges and build trust with partners.