Korea’s Top 8 Banks Team Up to Launch KRW Stablecoin JV
According to Economic Review (June 25), eight major Korean banks — including Kookmin, Shinhan, Woori, Nonghyup — are forming a joint venture to issue a KRW-pegged stablecoin, aiming to counter USD dominance in the global stablecoin space.
🔍 Two models under discussion:
Trust-backed issuance
Deposit token model (1:1 bank deposits)
Expected launch: Late 2024 or early 2025
This marks the first coordinated move by Korea’s private banking sector into digital assets.