Samsung and Shinhan Participate in Open Standard Trademark Application in Korea

Open Standard has applied for the trademark 'OPEN STANDARD' in Korea. This consortium, which includes 13 companies such as Samsung Electronics, Shinhan Financial Group, and Dunamu, is set to issue the dollar stablecoin 'OpenUSD (OUSD)'. According to the Patent Office on the 13th, Stripe filed the trademark application on the 30th of last month alongside the public announcement of the OUSD project. OUSD is a stablecoin issued with the participation of over 140 global companies, including Visa, Mastercard, BlackRock, and Google, and adopts a structure where participating companies share the profits from reserve management. This trademark application is analyzed to be aimed at payment and remittance businesses utilizing OUSD in Korea. The applied goods include technologies and infrastructure necessary for stablecoin services such as virtual currency electronic payments, transfers, and blockchain-based user authentication. Tether and Circle have also recently applied for trademarks in Korea. There is growing interest in the regulatory framework for overseas issued stablecoins under the Digital Asset Basic Act.