South Korean banks offer 80+ brands Stablecoin – here is what is happening! star-news.press/wp

Main meals

South Korea banks intensify encryption and interlocutors initiatives before new legislation, indicating a major shift in the organizational position.

As the United States advances forward with the genius law to regulate Stablecoins Payments, other countries follow, and South Korea is among the most active.

The main South Korean banks are now accelerating their encryption strategies, and they constitute a customized team and drafting plans for the issuance and management of Stablecoins, according to Mile Kyungji newspaper.

“With discussions on the coding of Stablecoins quickly, the banking sector is now taking proactive measures.”

This activity comes from the activity in anticipation of new legislation that can officially illuminate these processes, indicating the country’s increasing willingness to embrace the economy of digital assets.

What banks have shown interest?

According to the MAEIL newspaper, WooRi Bank launched the full “Digital Asset” team under the new business partnership platform.

This group, with digital professionals, revives sleeping projects such as encryption nursery and exploring new alliances with Blockchain companies.

Meanwhile, KB Kokmin Bank manages a virtual asset consulting body through its subsidiaries.

The unit was assigned to build digital asset strategies, adapt to politics and coordination of initiatives through insurance, securities and asset management weapons.

Hana Bank also explores the edition of emerging Stablecoins. Chenhanhan Bank has deployed a work group of 20 people on the services of the initial model and secured brands in advance.

Even local players like Busan Bank and K-Bank are entering the battle.

Trademarks and technicians and market timing

Behind the inner preparatory, the southern Korean lenders make bold external movements. KB Kokmin 81 has presented a brands related to Stablecoin. 32 for WON and 49 for foreign currency pairs.

Shinhan performs concept proof tests, a review of the organization’s scenarios, and the design plans to integrate for Stablecoin products.

Woouri plans to launch “Vitgo Korea” jointly, a goalkeeper that focuses on Stablecoin with foreign partners, and has already signed new space agreements.

Clear rules, faster work

South Korea reviews new bills to determine the edition of Stablecoin, encryption custody, and digital asset exchange instructions.

This reflects a sharp difference from the United States, where the list remains fragmented, and the agency is supervised.

The genius law only covers payment, while the roles of SEC and CFTC continue to overlap.

On the other hand, the South Korean Digital Assets Law (DABA) provides a unified legal framework, including symbols, NFTS, and custody rules.

Will this in turn increase the encryption?

Commenting on this transformation, Sangmin SEO, president of the KAIA DLT Foundation, stressed that the organizational clarity of South Korea could soon become a model for other countries.

Seo put it better when he said,

“These elections, Korean policy sees encryption as a narration to obtain voters’ preferences, and puts it as another national growth engine along with artificial intelligence and semi -conductors.”