author
Tim Alper
author
Tim Alper
Involve
South Korea experts claim that the country’s Stablecoin axis in the country can hinder the growth of card providers, but provides a batch of local technology giants.
The media in the country reported on June 23 that the democratic party legislators of the Political Affairs Committee of the National Assembly to put a draft law called the Digital Asset Innovation Law next month.
Stablecoins defines “stable digital assets”. It will also lead to stipulating that potential exporters will need to prove that they have at least 1 billion -winged capital assets ($ 720.258).
Stableco Pivot: What companies can suffer?
Stablecoins is likely to occur to the South Korean financial sector. They will allow people to make payments using the icons issued from the private sector without engaging FIAT.
The Bank of Korea has expressed doubts. She urged caution and warning of a harmful impact on the commercial banking sector.
New daily I mentioned that credit card providers can be negatively affected by Stablecoin applications.
The media indicated that experts are concerned that the cards industry “may face a long -term structural crisis with a gradual weakening of the payment base.”
The port warned, warning the port, “may make it difficult for the industry to guarantee profitability in the short term.”
However, an employee of a card provider did not reveal his name with a glimmer of hope, explaining:
“It is difficult to predict the effect of Stablecoins on profitability. However, it will be difficult for them to replace our ability to provide credit spending. This is the unique field of cards issuing companies.”
But it seems that credit is a double -edged sword for card companies. The perpetrator stated that local card exporters are trying to “defend their profit by expanding high interest loans.”
She wrote the port, as he wrote this, causes a rise in failure to pay the loans, as “the ability of the borrowers to pay is decreasing.”
The average monthly virtual levels of South Korean Cards companies in the first quarter of the fiscal year reached 1.93 %.
This is significantly close to the 2 % average that the industry considers “dangerously high”. Worse, three of the country’s largest card companies (KB Kokmin, Hana and BC Card) have already exceeded a 2 % mark this year.
Stableco Pivot: What companies will flourish?
While banks and auto providers are clearly afraid of what works that work in their industry can do, technology companies seem eager to adopt change.
Determine the news She stated that although years of organizational uncertainty expanded business, it “moves quickly as governments around the world begin to show signs of clear guidelines.”
The director noticed that the likes of the Naver search engine and the developer of Kakao chat applications, both of which work on Blockchain innovations for years.
Other companies that are said to be looking for interest in developments in the Stablecoin space are Hyundai Hyundai HT (Smart Homes) and Hyundai Mobis (car parts).
Another smart home company, KOCOC, was also named, along with Mediazen software, Kaon Media delivery and Bridgetec.
The media outlet said that the expectations are “growing” for the Naver Stablecoin version and a link to the Web3 services that use this currency.
Naver is the South Korean answer to Google. She built a wide environmental system of web services, information technology and payment. An expert in industry, who is not named, said:
“Positive changes in Stablecoin’s policy will help accelerate Naver’s Naver’s business.”
In the case of Naver, the expansion of stablecoin business is the ability to cross borders. The company has a close historical link with Line, the famous chat application in Japan and other Asian markets.
The director concluded that the solution to potential cooperation for stability or inter -operating solutions can provide an additional boost.
South Korea has performed a set of speculative activity on stock markets and coding markets in the country.
Traders are trying to decision legislators by picking up shares in companies that have previously expressed their willingness to carry out a numbness related work.
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2025-06-23 23:30:00
