South Korea’s biggest banks are about to test whether stablecoins belong inside the banking system.
@ShinhanBankENG, Hana, KB Financial, and @wooribank met last week with @Tether_to (USDT) and @circle (USDC).
On the table:
→ Distributing dollar-pegged stablecoins in South Korea
→ Launching a won-based stablecoin
→ Building rails through private banks, not a central bank
The political context is shifting fast:
→ President Lee Jae Myung campaigned on a pro-crypto platform and is pushing for a national stablecoin market
→ The Bank of Korea scrapped its CBDC plans in June
→ Upbit is already working with Naver Pay on its own stablecoin
Stablecoins are moving into regulated finance.
And when four of South Korea’s biggest banks explore direct issuance, it’s a signal that stablecoins are shifting into the core of financial infrastructure.
The bigger question: what happens when other banking markets decide to follow?
3.12K
5
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.