Chainlink and LG CNS partner to expand South Korean stablecoins

Chainlink has entered a strategic partnership with LG CNS, the IT and AI services arm of South Korea’s LG Group, to develop infrastructure for the country’s digital asset market. The collaboration aims to expand the use and distribution of Korean won stablecoins by integrating Chainlink’s cross-chain, data, and orchestration tools into the LG CNS Digital Asset Platform Solution.

The partnership targets South Korea’s $68 billion cryptocurrency market, which includes more than 11 million eligible stablecoin users. LG CNS, which serves as the lead contractor for the Bank of Korea’s Project Hangang digital currency initiative, will use Chainlink’s decentralized oracle network to connect smart contracts with real-world data and enable communication between separate blockchain networks.

In addition to infrastructure integration, the two companies plan to cooperate on technical standards to support the advancement of South Korea’s digital asset framework and the tokenization of financial assets.