A significant shift in the South Korean financial landscape is underway, with the potential introduction of bank-issued won stablecoins. Recent reports from NICE Investors Service highlight how this change could impact banks and other sectors significantly. While won stablecoins offer efficient transactions and remittances, their emergence presents challenges to traditional banking models. The report focuses on how these digital currencies will influence interest income for banks and the broader financial ecosystem. A key concern is a potential reduction in bank deposit base as funds move towards stablecoins. This could impact banks’ ability to earn interest, a crucial aspect of their business model. The report further suggests that traditional banking services may be diminished if consumers increasingly utilize stablecoins for transactions.