Hecto Financial will join Open Standard, a global corporate alliance for the dollar-based stablecoin OpenUSD (OUSD). Its stablecoin-based global payments and settlement infrastructure will expand following Circle's Circle Payments Network (CPN).

Hecto Financial said on Wednesday it will participate in the U.S.-based Open Standard as a network partner. About 160 global companies including Visa, Mastercard, Stripe and Coinbase are participating in Open Standard.

Based on its foreign exchange and overseas remittance business provided to global companies, Hecto Financial is reviewing ways to use OUSD for overseas remittances and business-to-business payments and settlement. It plans to provide different global payment infrastructures, including CPN and OUSD, depending on corporate clients' transaction methods and countries.

Open Standard is run as an open structure in which multiple companies participate in building the ecosystem. Network partners do not pay separate fees in the OUSD issuance and redemption process, and share related revenue if they contribute to expanding the use of OUSD.

Open Standard will start issuing OUSD on four blockchains including Base, Ethereum, Solana and Tempo on Sept. 30 local time. OUSD will begin trading on Coinbase, Kraken and Uniswap, and will also support functional integration through Coinbase, Mastercard, Stripe and Visa.

Hecto Financial CEO Jong-won Choi (최종원) said, "With our global network expanded to Open Standard following Circle CPN, we will build infrastructure so that companies at home and abroad can use various stablecoins to carry out global payments and settlement more efficiently."