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South Korean payment gateway company Danal has joined the global stablecoin ecosystem as the first domestic PG firm to do so, stepping up its push into the digital-asset payments market, The Asia Business Daily reported.
Danal said on Aug. 21 it had officially joined the global “Open Standard” ecosystem and become a key participant in Open USD (OUSD), a U.S. dollar-based stablecoin. Open Standard is a consortium backed by about 140 global companies, including Visa and Mastercard, through a shared governance structure. The initiative aims to establish a new digital finance standard through OUSD, which it describes as a neutral payment asset for digital fund settlement and transfers between institutions.