[REVISION HISTORY]

South Korean stablecoin and digital asset development

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2026-10-23 10:18 UTC → 2026-10-26 08:18 UTC · added ~~removed~~

Efforts to expand the South Korean digital asset market have seen significant infrastructure and partnership developments. Injective and digital asset custodian BDACS signed a memorandum of understanding to integrate KRW1, the country’s first won-backed stablecoin, into the Injective blockchain ecosystem. This initiative seeks to provide a local currency settlement asset for real-world assets to mitigate foreign exchange exposure and capital outflows. Following this, Chainlink and LG CNS announced a strategic partnership to develop infrastructure for the digital asset market. By integrating Chainlink’s oracle and cross-chain tools into the LG CNS Digital Asset Platform Solution, the collaboration aims to support the distribution of Korean won stablecoins and the tokenization of financial assets. LG CNS, which serves as a lead contractor for the Bank of Korea’s Project Hangang, intends to use these technologies to connect smart contracts with real-world data. The partnership specifically targets South Korea’s $68 billion cryptocurrency market and focuses on establishing technical standards to support the growth of the tokenized securities market and provide secure connectivity between different blockchains and traditional financial systems.

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