Eight Korean Banks Join to Establish Won-Backed Stablecoin

Naver Pay ready to lead future won-based stablecoin market in South Korea

Naver Pay, a mobile payment service operated by internet giant Naver, said Thursday it is ready to take a leading role in Korea's potential won-based stablecoin market, leveraging its extensive digital finance and wallet infrastructure. "There have been active discussions over the past two weeks, but the matter remains cautious as legislation has yet to be enacted," Park Sang-jin, chief executive officer (CEO) of Naver Pay, said during a media e…

Eight Korean Banks Join to Establish Won-Backed Stablecoin

South Korean Banks Prepare to Issue Stablecoins

South Korea is stepping up efforts to issue stablecoins pegged to the won. Local commercial banks formed a consortium to work on stable assets, while the country’s central bank insists... Сообщение South Korean Banks Prepare to Launch Stablecoins появились сначала на CoinsPaid Media.

South Korean Banks Collaborate on Won-Backed Stablecoin - Blockchain & Cryptocurrencies Tabloid

Eight South Korean banks have partnered to launch a won-backed stablecoin, positioning it as a significant contender against USD stablecoins in digital markets. The post South Korean Banks Collaborate on Won-Backed Stablecoin appeared first on Blockchain & Cryptocurrencies Tabloid.

8 Top Banks Of South Korea Unite To Launch Won-Based Stablecoin

Eight major commercial banks in South Korea KB Kookmin, Shinhan, Woori, Nonghyup, Industrial Bank of Korea, Suhyup, Citibank Korea and SC First Bank have declared their intentions to collaboratively form a corporation aimed at issuing a won-pinned stablecoin. This joint project is under development in collaboration with both the Open Blockchain and DID Association and the Financial Supervisory Service. The initiative will be the first for domest…