South Korea Launches Won-Based Stablecoin — What Are the Future Prospects?

Updated

August 19, 2025

Gambar South Korea Launches Won-Based Stablecoin — What Are the Future Prospects?

Jakarta, Pintu News – South Korea is preparing to take a big step into the digital asset sector with plans to launch a stablecoin tied to the won exchange rate.

The initiative was announced by South Korea’s Financial Services Commission (FSC), which will submit a draft stablecoin regulation to the National Assembly in October.

The move is part of efforts to reduce reliance on US dollar-based stablecoins and strengthen the country’s monetary sovereignty.

Check out the full information in this article!

Stablecoin Bill

According to Coinspeaker, South Korea’s FSC plans to introduce a regulatory framework for won-backed stablecoins. The proposed bill includes provisions on issuance, collateral management, and internal risk controls.

This is part of the second phase of the Virtual Asset User Protection Act, which has received several related proposals from legislators. President Lee Jae Myung, who fully supports this initiative, has promised in his campaign to develop a strong domestic stablecoin market.

The goal is to reduce reliance on US dollar-based tokens and strengthen South Korea’s financial position on the global stage.

Support from Banks and Tech Giants

The stablecoin development effort has broad support from some of South Korea’s largest institutions. Representatives from major tech companies such as Naver and Kakao, as well as the country’s four largest banks – KB Kookmin, Woori, Shinhan, and Hana – have joined the discussion.

Industry players are calling for cooperation between banking and payment networks to ensure interoperability and efficiency. This collaboration is expected to accelerate the integration of stablecoins in the national financial system and support more secure and stable transactions.

Stablecoin Project by Eight Banks

Eight major banks in South Korea, including Nonghyup, Corporate, Suhyup, Citi Korea, and SC First Bank, are preparing to launch a won-bound stablecoin project in late 2025 or early 2026.

The project will adopt a 1:1 or trust-based deposit token model, although it is still awaiting regulatory approval. The initiative has gained support from non-profit groups focused on blockchain and the Korea Institute of Telecommunications and Financial Clearing.

With this support, the project is expected to provide a secure and stable alternative for financial transactions in the future.

Conclusion

With this move, South Korea is demonstrating its commitment to leading the way in digital finance innovation in Asia. The development of won-based stablecoins will not only strengthen the country’s monetary sovereignty but also offer an alternative to the dollar’s dominance in global digital transactions. With a solid regulatory framework in place, South Korea has the potential to become a key player in the global stablecoin market.

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