Stablecoin needs to evolve into a trust-based financial infrastructure beyond just virtual assets
In order to build a “Korean-style stablecoin ecosystem” to secure the global competitiveness of Korean won stablecoins, the public, private, and governments gathered together to discuss institutional and technical directions.
The “Policy Seminar for Securing Leadership in the Age of Stablecoin” was held at the National Assembly Hall on the 5th, hosted by the National Strategy Forum for Accelerating International Order, the Democratic Party’s Future Economic Growth Strategy Committee, and lawmakers Lee Eon-joo and Min Byung-duk and organized by the Korea Web3 Blockchain Association and the Stablecoin Alliance. The official launch of the “Stablecoin Alliance” was also declared at this event.
Experts who presented on this day agreed that stablecoins should evolve into “trust-based financial infrastructure” beyond simple virtual assets.
Kim Jong-hyup, CEO of Parameters, the first presenter, emphasized “the core of stablecoins is reliability,” and stressed that “a verification framework that internalizes anti-money laundering (AML) and customer identification (KYC) functions in the network itself is essential.”
“True value is created when technology and regulation are linked to real economic systems such as trade finance, logistics, and tariff payment on an integrated architecture,” said Kim Jong-seung, CEO of Exrypton.
In addition, CEO lawyer Cho Won-hee of the law firm DLG suggested the formation of a joint “technical standard working group” between the public and private sectors, saying, “We need to review not only the introduction of stablecoins but also issues that will arise in actual implementation, such as technology standards.”
Yoon Young-joo, an official at the Financial Services Commission, said, “The premise of introducing won stablecoins is user trust,” adding, “We are designing intensive user protection devices such as introducing a licensing system for the issuer, mandating more than 100% of the reserve assets, and separating assets (insulating bankruptcy) in case of bankruptcy.”
Meanwhile, an “on-chain KYC payment demonstration” was held at the venue to technically prove the possibility of compliance, blocking transactions between unauthenticated wallets through smart contracts, and introducing privacy technology and multi-chain interoperability without exposing personal information.
“Now that the digital asset market is growing, it is golden time to complete the system and revitalize the market,” said Lee Eon-joo, a member of the Democratic Party of Korea. “We need to protect the sovereignty of digital currencies by institutionalizing STO, won stablecoin, and stablecoin ETF through the Basic Act on Digital Assets.”
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