<ul data-eligibleForWebStory="true"><li>Eight South Korean commercial banks have formed a consortium to establish a won-backed stablecoin, a first for South Korea's banks.</li><li>KB Kookmin filed 17 trademarks for the won-backed stablecoin, including ticker symbols like KBKRW and KRWST.</li><li>The stablecoin is scheduled for launch by late 2025 or early 2026, utilizing trust-based and deposit-based issuance models.</li><li>South Korea's move towards a won-backed stablecoin has strong political backing and is seen as a means to counter dollar-pegged stablecoins.</li></ul>

South Korean Banks Unite on Won-Backed Stablecoin Initiative

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