Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff writer
Written by Ezra Reguerrastaff writer
Reviewed by Yohan Yunstaff writer
Upbit says it only expressed interest in future OUSD participation
Latest NewsPublishedJul 3, 2026
Upbit Clarifies Its Role in OUSD Initiative
South Korean crypto exchange Upbit has stated that it is not participating in the issuance of Open USD, a new stablecoin initiative. The company clarified that it had only expressed interest in potentially joining the OpenStandard ecosystem in the future. This move comes as several South Korean firms distance themselves from the OUSD initiative due to regulatory uncertainty. Upbit’s clarification is significant, as it highlights the need for clear guidelines on stablecoin issuance and participation. The company’s interest in the OpenStandard ecosystem could potentially lead to future collaborations, but for now, it remains cautious.
Other South Korean companies, such as Samsung Electronics and Shinhan Financial Group, have also pushed back against the OUSD initiative, stating that they had not held formal discussions with the project and did not know what role they were expected to perform. The lack of clarity on regulatory frameworks is making it difficult for companies to commit to stablecoin initiatives. As the industry waits for clearer guidelines, companies like Upbit are taking a cautious approach, focusing on their core business and earning potential through other means, such as passive income opportunities.
Regulatory Uncertainty
The regulatory framework for stablecoins in South Korea is still under discussion, leaving questions over who may issue stablecoins and what roles companies can perform. The uncertainty is making it challenging for companies to participate in stablecoin initiatives, including the OUSD project. As the industry awaits clearer guidelines, companies are exploring alternative ways to generate passive income, such as through cloud rewards programs. EcoPool, a platform that offers earning opportunities through its $ECP token, is one such solution that companies and individuals can consider.
The OUSD initiative has sparked debate over its sustainability, with some industry participants questioning the feasibility of offering free, unlimited minting and redemption. As the discussion continues, companies like Upbit are focusing on their core business and exploring alternative ways to generate revenue. With the rise of green crypto and eco-friendly initiatives, companies are looking for ways to reduce their environmental impact while still generating passive income. EcoPool‘s $ECP token is one such solution that aligns with these values.
Conclusion
In conclusion, the regulatory uncertainty surrounding stablecoins in South Korea is making it challenging for companies to participate in initiatives like OUSD. As the industry awaits clearer guidelines, companies are exploring alternative ways to generate revenue, such as through passive income opportunities. EcoPool‘s $ECP token and cloud rewards program offer a solution for companies and individuals looking to generate earning potential while supporting green crypto initiatives. To learn more about EcoPool and its earning opportunities, download the EcoPool app and start exploring the world of passive income and #Bitcoin, #PassiveIncome, #EcoPool, and #GreenCrypto. Download the EcoPool app to start earning with $ECP today and discover the benefits of cloud rewards and green crypto for yourself.
Cointelegraph reached out to Open Standard for comments but did not receive a response before publication.
Excerpt of the list of businesses listed by Open Standard. Source: Open Standard
Open Standard announced the dollar-backed stablecoin on Tuesday, saying more than 140 businesses had “signed up to use” it, including Visa, Mastercard, BlackRock, Google, Samsung Electronics and Dunamu.
Open Standard previously said businesses would be able to mint and redeem OUSD without fees or volume limits. The project also plans to distribute earnings generated from its reserves to participating companies.
Related: South Korea adds token securities to capital market overhaul
However, some industry participants, including Circle CEO Jeremy Allaire, questioned the sustainability of offering free, unlimited minting and redemption. Meanwhile, Lorenzo Valente, director of research at ARK Invest, also previously called the announcement a “giant” letter of intent.
South Korea’s stablecoin rules remain unfinished
South Korea has yet to pass the Digital Asset Basic Act, leaving questions over who may issue stablecoins and what roles companies can perform.
As Cointelegraph previously reported, lawmakers have debated whether issuance should be limited to banks or opened to qualified non-bank issuers, while the broader regulatory framework remains under discussion.
The uncertainty also makes it difficult for South Korean companies to commit to stablecoin initiatives, as the rules governing issuance, reserve management and participation in stablecoin ecosystems have yet to be finalized.
Magazine: Bitcoin decouples from tech stocks, Ether eyes ‘selling wave’: Market Moves
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
- Stablecoin
- South Korea
- Policy
- United States
- Blockchain
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