Tag: stablecoin

stablecoin

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Korean banks race to test stablecoins as Seoul’s digital currency rules remain stuck

Financial groups are preparing won-denominated stablecoin services while lawmakers and regulators remain divided over who can issue them.

2026.9.15

A model from the local startup Kona I demonstrates the use of a won-pegged stablecoin, tentatively named KSC. KSC is a stablecoin version of local currency that can be registered with services like Samsung Pay or loaded onto prepaid cards for use at local currency merchants. [KONA I]

원화 스테이블코인 도입, 어디까지 왔나?

From buying coffee at Starbucks to purchasing lipstick at Olive Young, a growing number of Koreans are embracing stablecoins for everyday payments, often through overseas third-party payment platforms.

2026.1.21

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Where does Korea stand on stablecoin adoption?

2026.1.11

Joachim Nagel, president of the Deutsche Bundesbank and a member of the Governing Council of the European Central Bank, speaks during an interview with the Korea JoongAng Daily and the JoongAng Ilbo held in the Bank of Korea in central Seoul on Dec. 2. [WOO SANG-JO]

As growth slows, targeted spending vital in expansionary spending, German central bank chief says

Korea and Germany may sit on the opposite sides of the globe, but they share striking economic parallels. Both rose to prosperity within decades on the back of manufacturing and strong exports, anchored by world-class car industries.

2025.12.7

Hana Financial Group Vice Chairman Lee Eun-hyung, right, and Dunamu CEO Oh Kyoung-suk pose for a photo after signing an agreement that will see the firms jointly develop financial services using blockchain technology at Hana Financial Group's office in Myeong-dong, central Seoul, on Dec. 3. [HANA FINANCIAL GROUP]

Hana Financial Group, Dunamu to co-develop blockchain services, including overseas remittance system

Hana Financial Group said Thursday it had signed an agreement with crypto exchange operator Dunamu to jointly develop financial services using blockchain technology, including an overseas remittance system expected to speed up cross-border payments.

2025.12.4

Heads of major financial institutions stand for photos before a market monitoring meeting at the Seoul Government Complex in Jongno District, central Seoul, on Nov. 14. From left are: Financial Supervisory Service Governor Lee Chan-jin, Bank of Korea Governor Rhee Chang-yong, Deputy Prime Minister Koo Yun-cheol and Financial Services Commission Chairman Lee Eog-weon. [MINISTRY OF ECONOMY AND FINANCE]

Won-based stablecoin legislation unlikely this year as BOK, regulators clash over banks' role

Legislation for won-based stablecoins is stalled due to disagreements between regulators and the Bank of Korea on bank ownership. Concerns about innovation and market participation persist as firms hesitate amid unclear regulatory guidelines.

2025.11.25

A representation of cryptocurrencies is seen in this illustration taken on Jan. 24, 2022. [REUTERS/YONHAP]

BOK calls for bank-led stablecoin amid parliamentary fervor for token

The Bank of Korea has warned that digital tokens pegged to the won could repeat past monetary failures if not backed by public trust and strict oversight, as lawmakers rush to pass the country’s first stablecoin law by the end of the year.

2025.10.27

A building suspected to be part of a criminal compound is seen in Sihanoukville, Cambodia, on Oct. 14. [YONHAP]

Cryptocurrency transfers between Korea, Cambodia skyrocketed in 2024, investigation finds

The flow of U.S. dollar–pegged stablecoins between major Korean cryptocurrency exchanges and a Cambodia-based exchange accused of money laundering surged nearly 1,400-fold in 2024, raising concerns that local platforms may have been exploited.

2025.10.27

Democratic Party Rep. Ahn Do-geol speaks during a policy discussion roundtable on stablecoins at the Korea Financial Investment Association headquarters in Yeouido, western Seoul, on July 23. [YONHAP]

DP proposes bill on stablecoins in move to realize Lee campaign pledge

The Democratic Party proposed a bill to institutionalize stablecoins, marking the first legislative initiative from the National Assembly-controlling party to concretely realize President Lee Jae Myung’s campaign pledge on the issue.

2025.7.28

A digital board at the Bithumb Lounge in Seocho District, southern Seoul, displays Bitcoin’s record-high price on July 14. [NEWS1]

Sluggish legislation hinders Korea's entry into stablecoin market

While the United States and Europe charge full speed into the stablecoin era, Korea is caught flat-footed — with lawmakers stalled, regulators silent and corporate giants circling a trillion-won prize they’re not yet allowed to touch.

2025.7.18