The eight major banks in South Korea plan to establish a joint venture to launch a Korean Won stablecoin.

吴说Jun 25, 2025
#DeFi
Eight major banks in South Korea, including KB Kookmin Bank, Shinhan, Woori, NH NongHyup, IBK Industrial Bank of Korea, Suhyup Bank, Citibank Korea, and Standard Chartered Korea, are collaborating with the Open Blockchain and DID Association and the Korea Financial Telecommunications and Clearings Institute to establish a joint venture for a Korean Won stablecoin. This project marks the banking industry's first joint entry into the digital asset space in the form of a consortium. The initial plan includes two stablecoin models: a trust-based model and a deposit-linked model. The company is expected to be established as early as the end of this year or the beginning of next year. [Korean media "Economic Review"]
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The eight major banks in South Korea plan to establish a joint venture to launch a Korean Won stablecoin.

吴说Jun 25, 2025
#DeFi
Eight major banks in South Korea, including KB Kookmin Bank, Shinhan, Woori, NH NongHyup, IBK Industrial Bank of Korea, Suhyup Bank, Citibank Korea, and Standard Chartered Korea, are collaborating with the Open Blockchain and DID Association and the Korea Financial Telecommunications and Clearings Institute to establish a joint venture for a Korean Won stablecoin. This project marks the banking industry's first joint entry into the digital asset space in the form of a consortium. The initial plan includes two stablecoin models: a trust-based model and a deposit-linked model. The company is expected to be established as early as the end of this year or the beginning of next year. [Korean media "Economic Review"]
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