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Crypto

Banks or non-banks? Last-minute tug of war over won stablecoin issuers

As discussions to institutionalise won-denominated stablecoins near the final stage, South Korea is debating how broadly to allow issuers. Authorities are consulting on issuer eligibility, reserve assets and redemption systems under the planned Digital Asset Framework Act. One option would allow issuance by consortia in which banks hold a majority stake. The Bank of Korea supports introducing private won stablecoins but stresses risks to financial markets and monetary policy as scale grows.

Finance

Sooho IO unveils \'global financial pipeline\' strategy, introduces Sooho PartnerHub

Institutional-grade digital asset financial infrastructure company Sooho IO unveiled its \"global financial pipeline\" strategy at an event in Seoul. It also introduced Sooho PartnerHub, a subscription-based enterprise digital asset finance platform that connects required infrastructure in advance and offers it in a single environment. Sooho IO plans to expand functions from trading and earning to payments and remittances, and to link with settlement network Partior to support connections to global payment and settlement networks.

Crypto

Parameta completes PoC with Shinhan EZ Insurance on deposit token-based insurance process

Web3 enabler Parameta (formerly ICONLOOP) said on Tuesday it completed a proof of concept with Shinhan EZ Insurance covering a blockchain-based insurance process using deposit tokens. The test covered premium payments and claim payouts as well as the end-to-end workflow from product creation to settlement. The companies said they validated a structure that can verify decision grounds and processing histories and track judgment data and records using external indicators such as weather.