Gate News message, April 28 — iM Bank, a South Korean commercial bank, has launched a strategic initiative to develop a won-based stablecoin ecosystem through a partnership with Finger and Valley Data. The collaboration aims to combine traditional banking reliability with blockchain efficiency to create a hybrid financial model for digital asset issuance and distribution.
The joint project focuses on building a stablecoin framework with real-time verification capabilities, directly linking bank deposits to on-chain token issuance. Each issued token will be backed by corresponding reserves held within the banking system. Smart contracts designed to meet international standards will support secure automated transactions and interoperability with global blockchain networks.
A key innovation is the planned implementation of post-quantum cryptography (PQC), marking the first adoption of such advanced cryptographic measures in South Korea’s financial sector. This approach is designed to safeguard systems against potential threats from future quantum computing advancements. iM Bank will oversee reserve management and verification functions, Finger will integrate the stablecoin system into existing financial frameworks, and Valley Data will handle global connectivity and distribution technologies.
South Korea’s domestic stablecoin market remains in its early stages, unlike global markets where dollar and euro-denominated stablecoins have gained significant traction. iM Bank’s initiative positions the bank to establish a foundational presence in the emerging won-based stablecoin sector and shape the country’s digital asset market development.
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