The representative of FANC Lee Don Ho (Lee Dong-Ho) said that testing is carried out in limited mode in order to evaluate the technical characteristics of KRWIN and the use of a coin in money transfers. Now the treatment of token occurs only between organizations associated with FANC and Initech. The developers would like steibclin to be used for payments and international money transfers, including among tourists.
“This is the first case in the country when a private company produces a digital asset tied to national currency. Subsequently, Krwin should stimulate the demand for crypto assets tied to Vena, since the blockchain technology can increase financial security standards, ”said Don Ho.
A month ago, FANC has applied to the Intellectual Property Department of the Republic of Korea (KIPO) for registration of the KRWIN trademark and related technologies. Officially, the date of the public launch of KRWIN has not yet been announced.
In South Korea, investors and fintech companies began to be more often interested in stablecoins and study their potential as a payment means. BitHumb local crypto -rope negotiates on the development of a similar product with Viva Republica, the TOSS financial application operator. The largest South Korean Exchange Upbit, together with the Naverpay payment provider, also studies the possibility of launching his own stabilcoin, provided by Korean volume.
President Lee Jae-Myung, President Lee Jae-Men, promised voters to legalize cryptocurrency exchange funds (ETFs) in the country and allow the launch of stablecoins with reference to Vena.
Source: Bits
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