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South Korea Should Prioritize Use Cases Over Issuers in Won Stablecoin Framework, Researcher Says

GateNews
HSBC-0.29%
According to Bloomingbit, a senior researcher at the Korea Institute of Finance recently stated that policymakers should assess the specific use cases and feasibility of a Korean won stablecoin before determining its issuer. He cited Hong Kong as a reference, where the Hong Kong Monetary Authority has granted stablecoin licenses to HSBC Hong Kong and AnchorPoint Financial (a joint venture of Standard Chartered Hong Kong, Animoca Brands, and Hong Kong Telecom), covering cross-border payments, domestic payments, tokenized asset trading, and supply chain finance. The researcher suggested South Korea's won stablecoin discussion should focus on solving domestic financial and payment system challenges, with application designs for payments, asset tokenization, and trade financing.
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