BOK says government agreed to bank-led won stablecoin issuance model

The Bank of Korea said it has agreed with the government to initially issue a won-denominated stablecoin through a bank-led consortium structure, with banks holding 50% plus one of the consortium’s equity, according to Digital Asset. BOK Governor Rhee Chang-yong made the remarks today during a parliamentary audit at the Bank of Korea’s headquarters in Seoul, after People Power Party lawmaker Lim I-ja asked for his view on issuing a won stablecoin, Digital Asset reported.