The Deputy Governor of the Bank of Korea warns that the rising use of stablecoins may undermine monetary sovereignty and financial stability

Stablecoins worth 19.5 billion dollars left South Korea in the first quarter of 2025, prompting calls for an alternative backed by the won

The Bank of Korea is considering linking its deposit tokens to a public blockchain, a move that would position the state-backed digital currency alongside private stablecoins operating on open networks.

Deputy Governor Lee Jong-ryeol stated that these tokens will be "a type of stable currency issued within the digital currency system built and operated by the Bank of Korea."