South Korea is really making big moves this time.

It is reported that the two major stablecoin giants, Tether and Circle, have been in close contact with Shinhan, Hana, KB Financial, and Woori Bank in South Korea to discuss cooperation in issuing the Korean won stablecoin.

Behind this, two key signals are released:


The South Korean government's regulatory attitude has become completely clear - the Financial Services Commission has stated that it will report (the Korean won stablecoin regulatory bill) in October.


The ambition of the South Korean financial industry - not only to become the Asian crypto center but also to directly compete with the US dollar in the stablecoin arena.

Why South Korea?

South Korea's daily crypto trading volume exceeds $10 billion, with activity levels in the crypto space second only to the United States.

Once the Korean won stablecoin is implemented, local players can save substantial foreign exchange costs, making transactions smoother.

More importantly, South Korea can use this to gain a share of the discourse power from the US dollar and enhance its international financial influence.

The calculations of Tether and Circle

Tether: With a market capitalization of over $120 billion, it has long suffered from 'compliance controversies,' and this time, finding South Korea can help fill the gaps.

Circle: Although USDC is stable, its rollout in Asia has been slow, and entering the Korean market is the best opportunity to seize market share.

This game is not only competitive but also collaborative, and it will inevitably shake up the global stablecoin landscape.


Difficulties and challenges

For the Korean won stablecoin to succeed, it must overcome several hurdles:

Reserve transparency - can the funding backing be public and transparent?

Cross-border payment standards - can technology be compatible with international settlement?

Regulatory compliance - can South Korea find a balance between regulation and innovation?

If successful, this will provide a model for all of Asia and even promote a unified stablecoin standard in East Asia.

⚡ Conclusion:

Tether and Circle teaming up with South Korea's four major banks is not just a project; it may be the prologue to rewriting the East Asian financial landscape.

Can South Korea leverage the 'Korean won stablecoin' to become a new center for digital finance? The next few months will be crucial.

Stay tuned: $BTC $ETH $SOL SKL ZEC XNY LDO AIO

#亚洲家族办公室加密资产配置 #美国初请失业金人数 #杰克逊霍尔会议 #ETH质押退出动态观察