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Crypto

Stablecoin land grab intensifies as banks and fintech form alliances

South Korea\'s finance and fintech sectors are stepping up competition to pre-empt the stablecoin market even as legislation remains stalled in parliament. Banks are moving to secure issuance rights through consortia and technology partners, while fintech firms and exchanges focus on controlling mainnets and payment networks. Global players are also positioning in networks and settlement infrastructure. The article says the battle for won and dollar stablecoin leadership is already under way.

AI & Enterprise

BDACS, Aptos team up to expand onchain won stablecoin commerce

Digital asset infrastructure firm BDACS said on May 13 it will work with layer-1 blockchain platform Aptos to expand the ecosystem for its won stablecoin, KRW1, and cooperate on infrastructure. The partnership focuses on extending KRW1 to the Aptos network and widening use cases using Aptos payment rails and partner networks. Plans include linking with mobile voucher services, payments and wallet infrastructure to build transparent onchain commerce for real-economy use.

Crypto

Wemade teams up with BDACS to build standard model for stablecoin payments

Wemade signed an MOU on April 21 with digital asset custodian BDACS to develop a stablecoin payment model and cooperate on business. The two will link Wemade’s won stablecoin-only mainnet, StableNet, with BDACS’ corporate custody wallet. StableNet lets users pay transaction fees in won stablecoins without a gas token and supports KYC and AML compliance solutions. They also plan to jointly design reserve management and short-term custody asset operation architecture.