South Korea’s Won Stablecoin: A Balancing Act Between Innovation and Risk

A debate rages in South Korea over the potential of a won stablecoin, a digital currency pegged to the Korean Won. While economists acknowledge the benefits of this technology for payments infrastructure and financial inclusion, they emphasize the need for cautious implementation due to potential risks. 37.1% of experts see innovation as the key driver, while nearly 30% remain skeptical about the necessity of a stablecoin. This divide stems from a delicate balance between harnessing innovation for digital payments and mitigating risks like coin runs and money laundering.