Blockchain oracle platform Chainlink said on Thursday it will cooperate with LG CNS as part of efforts to increase the use of won stablecoins.
Through the cooperation, the companies will integrate the full Chainlink platform into LG CNS’s institutional digital asset platform solution. They will also coordinate on work related to improving domestic digital asset technical standards.
The companies will first apply Chainlink cross-chain, data and orchestration infrastructure to LG CNS’s digital asset platform solution to connect blockchain networks and institutional systems. They also agreed to jointly develop oracle, interoperability and cross-chain standards tailored to the regulatory environment for domestic institutions.
Chainlink said South Korea is Asia’s second-largest digital asset market, adding that the won has consistently ranked second after the U.S. dollar in cryptocurrency market trading volume.
Yohaan Ahn (요한 에이드), chief business officer at Chainlink Labs, said, "By combining LG CNS’s institutional expertise with Chainlink technical standards, we will lay the groundwork for a digital asset infrastructure in South Korea that complies with regulations."
Chi-gyu Hwang
delight@d-today.co.kr