Wemade on July 15 unveiled Stablenet Wallet Version 2, which implements private transfer technology, as part of its efforts to step up its won stablecoin business.

The newly introduced wallet focuses on technically addressing a feature of blockchains in which all transaction information is transparently disclosed to the public. It applies a privacy design that protects sensitive information that could be exposed externally, such as salaries and asset size, during deposits, withdrawals and payments, and selectively discloses it only when needed.

The core technology applied is a "stealth address". Using it, the wallet is designed to thoroughly conceal detailed transaction information from third-party outside observers while allowing specific authorised businesses or supervisory bodies to audit and verify it transparently.

Blockchain-based finance has struggled to achieve large-scale adoption because of concerns about exposure of asset size and remittance information. The company said the new version addresses that issue, opening the possibility that stablecoin use could become common even in areas where asset exposure is sensitive, such as corporate salary payments and bulk transfers between institutions.

The company also added that it has delivered intuitive and convenient usability on par with commercial bank applications in terms of user experience.

Kim Seok-hwan (김석환), a vice president at Wemade, said, "The unveiling of Stablenet Wallet Version 2 is meaningful in that it has demonstrated financial innovation through a real, working app that the public can use, rather than remaining an abstract claim." He said, "Based on wallet infrastructure that satisfies both privacy protection and regulation, we will take the lead in a won stablecoin ecosystem that can be applied to real financial scenarios."