Comtus Holdings said on March 10 it presented on standardising a transfer network for won stablecoins at a technical seminar held during the inaugural general meeting of the Open Blockchain & DID Association.

Comtus Holdings attended the association's inaugural general meeting technical seminar held on Feb. 25 and began its first steps as a full member. The Open Blockchain & DID Association is a South Korean blockchain association made up of major domestic financial firms, blockchain specialist companies and experts.

Jong-cheol Jang (장종철), an executive director at Comtus Holdings who spoke at the seminar, stressed the need to standardise a transfer network for won stablecoins in preparation for an accelerating Web3 era. He proposed a joint proof of concept to member companies.

The standard proposed by Comtus Holdings focuses on building infrastructure so stablecoins expected to be incorporated into the institutional system can circulate safely. It says user protection, a privacy-focused system, and controls and monitoring systems for anti-money laundering, or AML, should be reflected in the transfer network standard specifications.

Jang said, "For blockchain technology to connect to institutional finance, regulatory compliance and system stability are essential." He added, "Going forward, I will contribute to creating a reliable won stablecoin transfer network standard based on a Sovereign Chain that fits the domestic regulatory environment, in cooperation with association member companies."

Comtus Holdings is actively pursuing blockchain business alongside global game publishing and game infrastructure-related businesses. Recently, it has focused on improving convenience and scalability with potential institutional services such as won stablecoins and security token offerings, or STOs, in mind.