The Bank of Korea (BoK) announced plans to begin the gradual introduction of stablecoins pegged to the South Korean won. Deputy Governor Ryoo Sang-dai stated that the central bank envisions a two-phase rollout: initially, only commercial banks will be allowed to issue these stablecoins under regulatory supervision, followed later by non-bank financial institutions.

• The project will be independent of South Korea’s CBDC (central bank digital currency) pilot, though it is seen as complementary.

• The goal is to ensure trust, liquidity, and risk management, while allowing innovation to flourish in the digital payment space.

• BoK is also considering technical standards and smart contract interoperability for future ecosystem compatibility.

This move reflects a major shift in South Korea's regulatory stance toward cryptoassets. The country, once known for its conservative position, now joins the growing list of jurisdictions supporting regulated, bank-issued stablecoins, including the U.S., EU, Singapore, and Japan.