Search results for South Korean won
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
Hashed Open Finance unveils Maroo testnet for KRW stablecoin blockchain
Hashed Open Finance, a unit of Web3 venture capital firm Hashed, has unveiled the first testnet for Maroo, a sovereign layer 1 blockchain aimed at supporting a Korean won stablecoin ecosystem. The company said Maroo is designed to retain public-chain openness while incorporating compliance, auditability and privacy protection from the outset. The testnet uses an OKRW token for fees and will test a dual-track model combining open and regulated transaction paths.
Crypto
BDACS expands KRW1 stablecoin to Plume mainnet
Digital asset custody firm BDACS said on Monday it has expanded its won-linked stablecoin KRW1 to Plume, a blockchain network specialising in real-world assets. BDACS said the integration will allow developers, financial institutions and asset issuers to secure won-based payments and liquidity in the Plume ecosystem. KRW1 is pegged 1:1 to the South Korean won and is fully collateralised by won assets deposited at major domestic commercial banks.
