South Korea’s central bank wants gradual stablecoin rollout
Bank of Korea governor Ryoo Sangdai reportedly said that banks should be the first to issue stablecoins, and they should do so slowly.
Bank of Korea deputy governor Ryoo Sangdai reportedly wants banks to be the primary issuers of stablecoins in the country before gradually expanding to other sectors.
Yonhap News reported that during a Tuesday press conference, Ryoo said a won-denominated stablecoin should first be introduced at regulated commercial banks to ensure a safety net.
“It would be desirable to initially allow stablecoin issuance primarily through banks, which are subject to higher levels of financial regulation, and gradually expand it to the non-banking sector,” he said.
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