South Korea’s Financial Sector Accelerates Stablecoin Development: Are the Regulations Ready to Keep Up?

TLDR South Korea’s major banks join tech firms like Naver and Samsung to develop won-pegged stablecoin systems. Stablecoin transaction volumes in South Korea have already exceeded $41 billion nationwide. Woori expands Samsung Wallet partnership and holds stake in KRW1 stablecoin issuer BDACS. The Financial Services Commission plans to submit South Korea’s first stablecoin bill soon. [...]

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