๐จ South Korean banks are making a power move in crypto!
Eight of the countryโs largest financial institutions are collaborating to develop a stablecoin backed by the South Korean Won ๐ฐ๐ท. This initiative is part of a broader plan to strengthen South Koreaโs position in the Asian stablecoin market and offer international remittance solutions using blockchain. ๐๐ธ
The consortium is working with major blockchain and fintech organizations, with regulatory frameworks expected by late 2025 or early 2026. ๐
Leading banks like Kookmin and payment giant Kakao Pay have already filed trademark applications for their stablecoins, signaling how serious this move is.
This could reshape the Asian digital currency market โ and fast.
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