South Korea’s Won Stablecoin: KIEP Identifies Key Reforms for Success

A new report from the Korea Institute for International Economic Policy (KIEP) highlights key reforms essential for a successful won stablecoin in South Korea. The report suggests strengthening financial infrastructure, specifically offshore FX trading and a robust short-term bond market, as crucial prerequisites for achieving widespread adoption of this digital currency. KIEP argues that these foundational changes will not only bolster the value of the Korean Won but also enhance South Korea’s global standing within the burgeoning world of cryptocurrency.