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Crypto

Stablecoins post 18 months of net outflows abroad, totaling 10.4 billion dollars

Stablecoins have recorded net outflows from South Korea for 18 straight months, with cumulative net outflows totaling $10.4 billion, or about 14 trillion won, an analysis showed. The report attributed the flow to the absence of a won-based stablecoin, saying local investors use dollar stablecoins as a substitute for trading and fund transfers in global digital asset markets. It said liquidity would be sufficient if a won stablecoin is introduced, but institutionalisation remains unresolved.

Crypto

Nexters expands Onechain validator set as Mblock joins

Nexters added Mblock Company to its Onechain validator set, expanding the group participating in network verification. Nexters said on Sept. 16 that Mblock Company joined as a Onechain validator. Mblock, a blockchain-focused subsidiary of Maeil Business Newspaper Media Group, operates validation nodes and runs digital-asset information and content businesses. It has participated as a validator on networks including Kaia, XPLA, ZetaChain and Injective.

Crypto

K-STAR verifies blockchain-based digital local currency with BNK Busan Bank

K-STAR, a technology alliance for a won stablecoin-based digital currency infrastructure involving AhnLab Blockchain Company, said on Sunday it completed a proof of concept with BNK Busan Bank to verify blockchain-based payment and settlement infrastructure for digitising local currency. The project aimed to implement an end-to-end policy-based local currency with embedded conditions such as usage locations and validity periods, and to test operational feasibility in a real financial environment.