The Bank of Korea has proposed providing central bank-backed guarantees for stablecoins
2025-08-28 00:59:27
At a joint event that brought together industry and academia to focus on stablecoins, the head of the Bank of Korea's digital currency research laboratory expressed his views on stablecoins, arguing that stablecoins need to be supported by the central bank. Yun Sung-guan, an official at the Bank of Korea, said: "Stablecoins are not new currencies, but the product of tokenizing existing currencies on a distributed ledger." He further added: "To achieve stable operation, the central bank still needs to provide support and guarantee in the end."
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