PANews reported on September 8th that, according to News1, South Korea's National Planning Commission is considering granting a consortium of banks and non-bank institutions the right to issue a Korean won stablecoin. The Financial Stability Council will be responsible for oversight and licensing. This initiative aims to combine the stability of banks with the innovation of fintech companies. The relevant bill is expected to be introduced by the Financial Services Commission in October.PANews reported on September 8th that, according to News1, South Korea's National Planning Commission is considering granting a consortium of banks and non-bank institutions the right to issue a Korean won stablecoin. The Financial Stability Council will be responsible for oversight and licensing. This initiative aims to combine the stability of banks with the innovation of fintech companies. The relevant bill is expected to be introduced by the Financial Services Commission in October.
South Korea plans to allow banks and non-banks to jointly issue Korean won stablecoins
PANews reported on September 8th that, according to News1, South Korea's National Planning Commission is considering granting a consortium of banks and non-bank institutions the right to issue a Korean won stablecoin. The Financial Stability Council will be responsible for oversight and licensing. This initiative aims to combine the stability of banks with the innovation of fintech companies. The relevant bill is expected to be introduced by the Financial Services Commission in October.
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