Korea’s ‘Onshore’ Won Policy Could Hinder Its Stablecoin Ambition
Good Morning, Asia. Here’s what’s making news in the markets:
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South Korea’s decision to shelve its central bank digital currency pilot in favor of private-sector stablecoins has sparked a wave of activities among fintechs and banks.
As CoinDesk previously reported, KakaoBank is weighing both issuance and custody roles, while Upbit and Naver Pay are collaborating on a payments-focused token that could help close the “kimchi premium” gap between local and global crypto prices.
The opportunity comes as Korea is moving to extend FX…
