🏦 South Korean banks are launching stablecoins!
📣 Eight largest banks in South Korea, including KB Kookmin, Shinhan, Woori, and Citibank Korea, are coming together to create a joint project for the issuance of stablecoins backed by the won!
💡 Two models are being discussed:
1. Trust model — the client's funds are reserved individually before the token is issued.
2. Deposit token model — the stablecoin is directly linked to bank deposits.
⏳ If regulatory approval is obtained, the launch is expected by the end of the year or early next year.
🔥 This could be an important step in integrating traditional finance and blockchain in South Korea.