MoonPay, Woori Bank to partner on KRW stablecoin infrastructure

Global crypto payments firm MoonPay has signed a memorandum of understanding (MOU) with Woori Bank to develop infrastructure for a Korean won-denominated stablecoin, Decenter reported on April 30. This marks MoonPay's first collaboration with a bank to support a won-based stablecoin ecosystem. The two companies will explore potential applications, including overseas remittances, crypto wallet integration, and currency exchange functions, contingent on the establishment of a future legal framework. They will also discuss the stablecoin's potential use in payments and settlements.