South Korea's eight major banks are planning to establish a joint venture to issue a Korean Won stablecoin and are exploring two issuance models.

MetaEraJun 25, 2025
#DeFi
On June 25th (UTC+8), eight major banks in South Korea are preparing to establish a joint venture to issue a Korean Won stablecoin. Participating institutions include Kookmin Bank, Shinhan Bank, Woori Bank, NongHyup Bank, Korea Development Bank, Suhyup Bank, Citibank Korea, and Standard Chartered Bank Korea. The project is jointly promoted by the Banks' Open Blockchain Association, the Decentralized Identifier Association, and the Korea Financial Telecommunications and Clearing Institute, and is currently still discussing the underlying infrastructure. (Source: Bitpush) [MetaEra]
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South Korea's eight major banks are planning to establish a joint venture to issue a Korean Won stablecoin and are exploring two issuance models.

MetaEraJun 25, 2025
#DeFi
On June 25th (UTC+8), eight major banks in South Korea are preparing to establish a joint venture to issue a Korean Won stablecoin. Participating institutions include Kookmin Bank, Shinhan Bank, Woori Bank, NongHyup Bank, Korea Development Bank, Suhyup Bank, Citibank Korea, and Standard Chartered Bank Korea. The project is jointly promoted by the Banks' Open Blockchain Association, the Decentralized Identifier Association, and the Korea Financial Telecommunications and Clearing Institute, and is currently still discussing the underlying infrastructure. (Source: Bitpush) [MetaEra]
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