South Korean agricultural co-ops consider joining won stablecoin consortium

South Korea's agricultural and livestock cooperatives (Nonghyup) are considering joining a consortium to issue a won-backed stablecoin, SBS Biz reported. The National Agricultural Cooperative Federation launched a consulting initiative today on a stablecoin response strategy for its mutual finance division. An official from the cooperatives stated that while they do not plan to enter the stablecoin business directly, they are developing a strategy to adapt as the entire financial sector, led by banks, moves into the space.