{"id":97224,"date":"2026-05-19T15:22:49","date_gmt":"2026-05-19T12:22:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=97224"},"modified":"2026-05-19T15:25:12","modified_gmt":"2026-05-19T12:25:12","slug":"south-korea-tests-stablecoin-pegged-to-won","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/south-korea-tests-stablecoin-pegged-to-won\/","title":{"rendered":"South Korea Tests Stablecoin Pegged to Won"},"content":{"rendered":"<p>South Korea&#8217;s KB Financial Group (KBFG) has completed the <span data-descr=\"Proof-of-Concept, PoC \u2014 preliminary project stage to verify the technical feasibility of a technology in practice before full-scale development\" class=\"old_tooltip\">proof-of-concept<\/span> phase for a <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoin<\/a> pegged to the won. KBFG tested a full cycle of financial services based on the asset, reports <a href=\"https:\/\/www.yna.co.kr\/view\/AKR20260515052900002\">Yonhap<\/a>.<\/p>\n<p>The pilot involved payment operator KG Inicis, blockchain platform Kaia, and fintech company OpenAsset.\u00a0<\/p>\n<p>During the pilot, KBFG examined several use cases for the asset:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Cross-border transfers:<\/strong> the won-based stablecoin was converted into a dollar equivalent through Kaia&#8217;s on-chain liquidity and sent to a bank account in Vietnam. The operation took less than three minutes, with fees 87% lower than the SWIFT system;<\/li>\n<li><strong>Offline payments:<\/strong> payments via QR code were tested in Hollys coffee shops without using a separate crypto wallet. On the backend, the transaction was automatically executed through a smart contract.<\/li>\n<\/ul>\n<p>Developers focused on transferring the internal settlement infrastructure to blockchain while maintaining the usual user experience. They emphasized that it was not a separate service but an integrated system.<\/p>\n<p>KB Kookmin (part of KBFG) <a href=\"https:\/\/www.kbfg.com\/data\/factbook\/2025_4Q_Factbook.pdf\">is<\/a> the largest bank in the country with assets exceeding 584.9 trillion won (~$424 billion).\u00a0<\/p>\n<p>Group representatives stressed their readiness to launch commercial tools as soon as the regulatory framework is established. The adoption of a digital assets law in South Korea is delayed due to disagreements between the central bank and the Financial Services Commission regarding the issuance rules for &#8220;stablecoins.&#8221;<\/p>\n<p>In April, Bank of Korea Governor Hyun Song Shin <a href=\"https:\/\/forklog.com\/en\/news\/uk-to-integrate-stablecoins-into-payment-system\">announced<\/a> plans to expand the use of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDC<\/a> and deposit tokens. According to him, this is necessary to adapt the monetary system to digital transformation.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korea&#8217;s KBFG has completed the proof-of-concept phase for a stablecoin pegged to the won.<\/p>\n","protected":false},"author":1,"featured_media":97225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"South Korea's KBFG completes stablecoin proof-of-concept phase.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,974,807],"class_list":["post-97224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-south-korea","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"South Korea's KBFG completes stablecoin proof-of-concept phase.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=97224"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97224\/revisions"}],"predecessor-version":[{"id":97226,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97224\/revisions\/97226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/97225"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=97224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=97224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=97224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}