On June 25, it was reported that eight major banks in South Korea are preparing to establish a joint venture company and plan to issue Korean won stablecoins. Participating institutions include Kookmin Bank, Shinhan Bank, Woori Bank, Nongxie Bank, Korea Development Bank, Water Association Bank, Citibank Korea Branch and Standard Chartered Korea Branch. The project is jointly promoted by the Banks Open Blockchain and Decentralized Identifier Association, Korea Financial Telecom and the Clearing I...