According to the South Korean 'Economic Review', eight major banks in South Korea are preparing to establish a joint venture company, planning to issuance Korean Won Stable Coin. Participating institutions include the Bank of Korea, Shinhan Bank, Woori Bank, Nonghyup Bank, Korea Development Bank, Suhyup Bank, Citibank Korea Branch, and Standard Chartered Bank Korea Branch. The project is jointly promoted by the Bank Open Block chain and Decentralization Identifier Association, the Korea Financial Telecommunications and Clearings Institute, and is still discussing the underlying infrastructure.

If approved by the regulators, the joint venture is expected to officially launch by the end of this year or early next year. The project team is currently considering two issuance models: one is the trust model, which involves independently trust customer funds before issuing Stable Coin; the other is the deposit-backed coin model, directly linking Stable Coin to bank deposits.#CoinDesk：Gate合约交易量增幅全球第一 #Gate Alpha上新 #加密市场结构原则