Min Byeong-deok confirms demand for KRW-based stablecoins

Min Byeong-deok, a left-wing lawmaker that acted as Lee Jae Myung's head of digital assets during the South Korean presidential election campaign, told The Block that there is demand for KRW payments in the field of digital finance. This is because South Korean content, games and e-commerce are expanding around the globe, Min explained. He also highlighted that the "settlement of overseas transactions using won-based stablecoins can reduce domestic capital being converted into foreign currencies." In addition, KakaoPay, a leading mobile payment firm in South Korea, has submitted stablecoin-tied patent applications earlier this month.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments