Architectural Concept Design Collection

  • CONTACT
  • MARKETCAP
  • BLOG
Finances Investing and Crypto News
  • BOOKMARKS
  • Finance
  • Investment
  • Crypto
    • Bitcoin
    • Blockchain
    • Ethereum
    • Forex
    • Tether
  • Market
    • Binance
    • Business
    • Investor
    • Money
    • Trading
  • News
    • Mining
    • NFT
    • Stocks
Reading: Upbit and Naver Pay team up to launch Korean won stablecoin
Share
  • bitcoinBitcoin(BTC)$105,394.82
  • ethereumEthereum(ETH)$2,390.39
  • tetherTether USDt(USDT)$1.00
  • rippleXRP(XRP)$2.17
  • binancecoinBNB(BNB)$645.03
  • solanaSolana(SOL)$146.54
  • usd-coinUSDC(USDC)$1.00
  • tronTRON(TRX)$0.278397
  • dogecoinDogecoin(DOGE)$0.157156
  • cardanoCardano(ADA)$0.54
Finances Investing and Crypto NewsFinances Investing and Crypto News
0
Font ResizerAa
  • Finance
  • Investment
  • Crypto
  • Market
  • News
Search
  • Finance
  • Investment
  • Crypto
    • Bitcoin
    • Blockchain
    • Ethereum
    • Forex
    • Tether
  • Market
    • Binance
    • Business
    • Investor
    • Money
    • Trading
  • News
    • Mining
    • NFT
    • Stocks
Have an existing account? Sign In
Follow US
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
Finances Investing and Crypto News > Blog > Crypto > Upbit and Naver Pay team up to launch Korean won stablecoin
Crypto

Upbit and Naver Pay team up to launch Korean won stablecoin

admin
Last updated: 01/07/2025 10:02 Chiều
admin
Published 01/07/2025
Share


Korean companies are joining the stablecoin race, with Upbit and Naver Pay becoming the latest entrants in the market.

South Korean firms are increasingly taking advantage of the new regulatory clarity around stablecoins. On Tuesday, June 1, Upbit, the nation’s largest crypto exchange, and Naver Pay, a fintech payment platform, joined forces to develop a Korean won stablecoin.

“It seems that Naver Pay will take the lead and Dunamu will cooperate,” stated an official from Dunamu, the operator of Upbit. “We will specify the scope and methods of cooperation as soon as the relevant system is established.”

Earlier, on June 26, Naver Pay announced that it would be leading a consortium of companies for the introduction of stablecoins backed by the won. A part of the reason for this move is the regulatory change in South Korea, which will soon likely favor stablecoins.

South Korea to introduce new stablecoin rules

Upbit and Naver Pay initiative comes as discussions around stablecoin regulations are intensifying in South Korea. On June 29, President Lee Jae-myung pledged to allow firms to issue stablecoins backed by the national currency.

The move has stimulated significant interest in companies tied to digital assets. What is more, several major banks, including KB Kookmin, Shinhan, Woori, Citibank Korea, and more, have come together for their own stablecoin initiative.

Since May, the South Korean ruling Democratic Party has been pushing for the launch of government-backed won stablecoins. Notably, lawmakers are racing to set up the stablecoins before USD-based stablecoins gain more dominance. They hope this would enable them to achieve some level of dominance in the global stablecoin market.

South Korea is among the markets with some of the highest levels of crypto adoption. A recent report shows that 27% of its population aged 20 to 50 own crypto assets, with 70% willing to buy more.

You Might Also Like

Crypto wallets are the banks of emerging markets, Bitget report shows

UK’s Smarter Web Company adds 196 Bitcoin to balance sheet amidst Iran-fueled price rebound

Tether invests in Chilean crypto exchange Orionx

Interview | SingularityNET’s Dr. Ben Goertzel on AGI, crypto and the end of jobs

Hut 8’s earnings swing to loss as Bitcoin halving bites

TAGGED:KoreanlaunchNaverPaystablecointeamUpbitwon

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article Wall Street’s Bitcoin proxy eyes $14b quarter, without selling a thing
Next Article Dow, S&P 500, Nasdaq mixed as investors weigh tariff talks
Leave a Comment

Để lại một bình luận Hủy

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *

Follow US

Find US on Socials
FacebookLike
- Advertisement -
Ad image
Popular News
Not all Bitcoin holding firms will avoid death spiral
Emergency Funds: Importance and How to Build One
Debt Management: Strategies to Pay Off Debt Efficiently
Riot Platforms unloads 475 BTC in its biggest single-month Bitcoin sale to date
Revolut partners with Lightspark to add Bitcoin Lightning for UK and EEA users
- Advertisement -
Ad image

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Finances Investing and Crypto News

FICN.net brings you the latest in finance, investment, and crypto. Stay informed with expert insights, market analysis, and beginner guides. Whether you're new or experienced, FICN.net helps you explore opportunities, manage risks, and make smarter financial decisions in a fast-changing world.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Ad image
© 2024 Finance, Investment, and Crypto News. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?