Cyworld owner Sigma Chain discusses stablecoin plans pending legislation

Sigma Chain, which acquired Cyworld, is in talks with financial-sector companies about a stablecoin business and left open the possibility of taking part in stablecoin issuance once relevant legislation is in place and conditions for working with financial institutions are met, Digital Asset reported. Kwak Jin-young, CEO of Sigma Chain, made the remarks to reporters at the Courtyard Marriott Hotel in Seoul today. Kwak added, "If legislation on stablecoins is passed later, acorns could then serve as a means of payment and a pay function," and said Dotori itself could become stabilized.