- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
WE-Launch
Analysis: South Korea's Korean Won Stablecoin Faces Uncertainty Due to Onshore Policy Restrictions
BlockBeats News, August 14th: The Bank of Korea has abandoned its central bank digital currency pilot and shifted to stablecoins issued by the private sector, triggering accelerated efforts by fintech companies and banks. KakaoBank is considering entering the issuance and custody business, while Upbit and Naver Pay are collaborating to develop payment-type tokens to narrow the local and global crypto price gap. However, due to longstanding restrictions on "onshore" Korean won transactions, overseas institutions cannot directly exchange Korean won abroad. Korean won stablecoins can only be used for KYC addresses connected to Korea, hindering cross-border settlement.
Analysts believe that this token lacks a payment efficiency advantage in the local instant and free transfer system, with its main application likely limited to domestic scenarios. (CoinDesk)
You may also like
Gainers
Latest Crypto News
Jupiter Releases HumidiFi Token WET ICO Guidelines
The cryptocurrency mining company supported by the Trump family saw its stock price "halved" in 30 minutes.
Deutsche Bank: If the next Fed Chair fails to effectively address inflation risks, the US Dollar may face downward pressure
Nine-Time Winning Trader Suffers First Defeat, Closing Out Short Position with Over $1.78 Million in Losses
The U.S. Money Market Asset Size Exceeds $8 Trillion for the First Time
Customer Support：@weikecs
Business Cooperation：@weikecs
Quant Trading & MM：[email protected]
VIP Services：[email protected]
App